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Managerial Eco Essay

2032 words - 9 pages

FEBRUARY 9TH , 2007 TIME: 2 HOURS ___________________________________________________________________
Part (I): Answer 2 of the Following Questions: - (15 Points)

1- Which of the following forecasting methods are appropriate for predicting business
a- Trend projections..
b- Leading economic indicators.
c- Lagging economic indicators.

2- Cite and discuss possible reasons a firm may actually find it self operating in the
stage (II) ...view middle of the document...

Be as specific as possible about
how the variables are going to be identified.
b- How concerned should each of these companies be about its own price policy
and about its competitors price policies.
c- Comment on usefulness of the following statistics:- (t) , (F) , (R²) , (DW)
d- What would you recommend to apply as appropriate forecasting techniques?
9- Define and compare the following types of cost:
a. sunk cost versus incremental cost.
b. Fixed cost versus variable cost.
c. Incremental cost versus marginal cost.
d. Opportunity cost versus out-of-pocket cost.
10-Briefly explain the meaning of the F-Test. Why do you think this test is considered
to be more important in multiple regression analysis?
11- What is multicolllinearity ? How can researcher detect this problem ? What is the
impact of this problem on the regression estimate ? What steps can be taken to
deal with this problem?
12- What is meant by " naïve" forecasting methods ? Describe some of the methods
that falls within this category .
13- Indicate whether each of the following statement is (T) or (F) . Explain Why?
a. When the law of diminishing returns takes effect, a firm's average product will
start to decrease.
b. Deceasing return to scale occurs when a firm has to increase all of its inputs at
an increasing rate in order to maintain a constant rate of increase in its outputs.
c. Stage (I) of the production process ends at the point where the law of
diminishing returns occurs.

Part (II): -

A- Solve One of the Following Problems:

1- A manufacturer of a computer workstations gathered average monthly sales
figures from its 56 branch offices and dealerships across the country and estimated
the following demand for its products:

Q = +15000 – 2.80P + 150A + 0.3Ppc + 0.35Pm +0.2Pc
(5,234) (1.29) (175) (0.12) (0.17) (0.13)
R2 = 0.68 SEE = 786 F = 21.25
The Variables assumed values are
Q = Quantity
P = Price of basic model = 7,000
A = Advertising expenditures in thousands = 52
Ppc = Average price of a personal computer = 4,000
Pm = Average price of mini computer = 15,000
Pc = Average price of leading competitor workstations = 8,000

a. Compute the elasticity for each of the variables. On this basis discuss the relative impact that each variable has on the demand. What implications do the results have for the firm’s marketing and pricing policies?
b. Conduct a t-test for the statistical significance of each variable.. Discuss the results of the t-tests in light of the policy implications mentioned.

2- The Economist of El Fiky company has calculated production function for
medium-size trucks as follows :

Q = 1.3 L0.75 K0.30
Q is quantities of outputs/ week - I is number of labour hours -K is capital use/
a. Does the equation...

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