magenerial economics report

2015-03-13 · 첨삭 강사 Vicky

학생이 쓴 원문

B is economically significant because the magnitude of the estimated coefficient on price has an effect on the extent of the change of quantity demanded. We can predict and measure the responsiveness of quantity demanded to change in price. However, A is a constant value regardless of the change of price and advertising. On the other hand, since the C is much lower than B, the effect of advertising is less sensitive than price. In most cases, therefore, I think advertising is not economically significant. A, B, C are statistically significant because the each p-value is smaller than significance level. All coefficients are also smaller than 0.01, so we are more than 99% confident that the coefficients are not 0. The coefficient on price, B is -10. It's a negative value and economically significant. If suppliers increase the price of milk, quantity demanded will be decreased. In other words, If suppliers decrease the price, quantity demanded will be increased linearly in this model.

강사 첨삭

Hi there [이름]!

Wow! This composition is serious.^^ I know that this is very important for you because it is your report in Managerial Economics. Okay I\'ll do my best.^^ Thank you for sending it. I hope that your report will be great! Good luck!

Teacher Vicky

Here are my corrections for you:

B is economically significant because the magnitude of the estimated coefficient on price has an effect on the extent of the change of quantity demanded.

>> CORRECT!

We can predict and measure the responsiveness of quantity demanded to change in price.

>> We can predict and measure the responsiveness of quantity demanded by the change in price.

However, A is a constant value regardless of the change of price and advertising.

>> CORRECT!

On the other hand, since the C is much lower than B, the effect of advertising is less sensitive than price.

>> On the other hand, since C is much lower than B, the effect of advertising is less sensitive than the price.

In most cases, therefore, I think advertising is not economically significant.

>> Therefore, I think that advertising is not economically significant in most cases.
A, B, C are statistically significant because the each p-value is smaller than significance level.

>> A, B, and C are statistically significant because each of their p-value is lower than the significant level.

All coefficients are also smaller than 0.01, so we are more than 99% confident that the coefficients are not 0.

>> All coefficients are also lower than 0.01, so we are more than 99% confident that the coefficients are not 0.
The coefficient on price, B is -10. It\'s a negative value and economically significant.

>> The coefficient of price B is -10. It\'s a negative value so it is economically significant.

If suppliers increase the price of milk, quantity demanded will be decreased.

>> If suppliers increase the price of milk, the quantity demanded will decrease.

In other words, If suppliers decrease the price, quantity demanded will be increased linearly in this model.

>> In other words, if suppliers decrease the price, quantity demanded will increase significantly as shown in this model.

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