Develop a multiple-regression model for auto sales as a function of population and household income from the following data for 10 metropolitan areas: (c5p9) Area Auto Sales (AS) ($000) Household Income (INC) ($000) Population (POP) (000) 1 $ 185,792 $ 23,409 133.17 2 85,643 19,215 110.86 3 97,101 20,374 68.04 4 100,249 16,107 99.59 5 527,817 23,432 289.52 6 403,916 19,426 339.98 7 78,283 18,742 89.53 8 188,756 18,553 155.78 9 329,531 21,953 248.95 10 91,944 16,358 102.13 Estimate values for b0, b1, and b2 for the following model:
AS = b0 + b1(INC) + b2((POP)
a. Are the signs you find for the coefficients consistent with your expectations?
b. Are the signs you find for the coefficients consistent with your expectations? Explain.
c. Are the coefficients for the two explanatory variables significantly different from zero? Explain.
d. What percentage of the variation in AS is explained by this model?
e. What point estimate of AS would you make for a city where INC = $23,175 and POP = 128.07?

Alandlord rented an art studio to an artist. under the terms of the signed, written, two-year lease, the artist agreed to pay the landlord $1,000 per month and to assume responsibility for all necessary repairs. after the first year of the lease, the artist assigned the balance of his lease to a sculptor. the landlord approved the sculptor as a tenant and accepted two rent payments from her, and then the landlord sold the building to an investor. the sculptor had made two payments to the investor when an electrical fire broke out in the studio, injuring the sculptor. the fire was caused by faulty wiring. the landlord was aware that there was a dangerous wiring problem when he leased the property to the artist. but when the landlord discovered how costly repairs would be, he decided it would be more profitable to sell the property than to repair it. the problem was not easily discoverable by anyone other than an expert electrician, and the landlord did not tell the artist, the sculptor, or the investor about the problem. the sculptor sues to recover damages for her injuries. from whom can the sculptor recover?

Your parents have accumulated a $170,000 nest egg. they have been planning to use this money to pay college costs to be incurred by you and your sister, courtney. however, courtney has decided to forgo college and start a nail salon. your parents are giving courtney $20,000 to her get started, and they have decided to take year-end vacations costing $8,000 per year for the next four years. use 8 percent as the appropriate interest rate throughout this problem. use appendix a and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. how much money will your parents have at the end of four years to you with graduate school, which you will start then?

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?