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Ratio of Amit’s profit to Harish’s profit = 60 × 12 : 48 × 8 = 15 : 8 Now, lets Amit’s profit be 15x and that of Harish be 8x. Given, 8x = 2800 x = 350 ∴ Total profit = 15x + 8x = 23x = 23 × 350 = 8050
The 2nd phase (diminishing returns to a factor) is exhibited by the following total product sequence:
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Economists generally believe that making assumptions is
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When two regression coefficients bear same algebraic signs, then correlation coefficient is:
