Question
In the question below is given a statement followed by
two assumptions numbered I and II. You have to consider the statement and the following assumptions and decide which of the assumptions is implicit in the statement. Statement: "To reduce energy consumption, all office lights will automatically switch off after 9 p.m." Assumptions: I. Some employees may forget to switch off the lights before leaving. II. Automatically switching off lights can help in reducing energy consumption.Solution
Assumption I is implicit because the rule introduces an automatic system, which suggests that relying on employees to manually switch off lights may not be effective. Assumption II is implicit because the stated purpose is "to reduce energy consumption," which presumes that automatic switching-off will indeed achieve that goal. Thus, both assumptions are implicit.
If r xy = 0, then:
In the basic Solow model of growth
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If the regression coefficients of x on y and y on x are -1/4 and -1/9 respectively, then what is the correlation coefficient between x and y?
If the price elasticity of demand for apples is 3, then what will be the impact on total revenue if price increases?
