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Author Question: Given the part worths above, which lightbulb will be preferred in the market, a super bright bulb ... (Read 113 times)

Tirant22

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on: Jun 29, 2018
Given the part worths above, which lightbulb will be preferred in the market, a super bright bulb that is 100 watts but burns out in 1500 hours and sells for 2.50, or a long life bulb that lasts 2500 hours, is 75 watts and sells for 3.00?
 a. the super bright bulb
  b. the long life bulb
  c. The two bulbs will be equally preferred.
  d. There is no way of determining this without more data.

Question 2

Which of the following is most appropriate if the purpose of the regression analysis is forecasting?
 a. standardized regression coefficient ()
  b. Y-intercept
  c. coefficient of determination (R2)
  d. raw parameter estimates


Hikerman221

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B
The sum of the part worths for the super bright bulb is 105, whereas the sum of the part worths for the long life bulb is 110; so the long life bulb will be slightly preferred.

Answer to Question 2

D


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Tirant22

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Reply #2 on: Jun 29, 2018
Correct answers!


Hikerman221

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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