Refer to the following nonlinear model which relates W to P, Q, and R:W = aPbQcRdThe computer output form the regression analysis is: 
Based on the info above, the value of R2 tells us that
A. 90.23% of the total variation in ln W is explained by the regression equation.
B. 0.9023% of the total variation in P, W, and R is explained by the regression equation.
C. 0.9023% of the total variation in ln W is explained by the regression equation.
D. 0.9023% of the total variation in ln P, ln Q, and ln R is explained by the regression equation.
Answer: A
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The United States possesses a large amount of human capital. As a result of this fact, in the United States there is a
A) large amount of machinery and equipment. B) large number of people and a great deal of land. C) highly skilled and educated labor force. D) large number of kind and generous humans. E) large amount of machinery (capital) that is run by people (humans).
Refer to Table 5.4. If at Job B the $20 outcome occurs with probability .2, and the $50 outcome occurs with probability .8, then in absolute value
A) Y = Z = $6. B) Y = Z = $24. C) Y = Z = $35. D) Y = $24; Z = $6. E) Y = $6; Z = $24.
A firm wishes to fire an employee. The company will save up to $300 . per month on his compensation package. It is estimated that the employee contributes around $4,100 to the company. The firm
a. Should not fire the employee because the benefits outweigh the costs b. Should fire the employee if the hidden cost of not firing him is $500 c. Should fire the employee if the hidden cost of not firing him is $1500 d. Need more information
A firm that acquires a substitute product can try and reduce inter-product cannibalization by
a. Doing nothing b. Repositioning its product or the substitute so that they do not directly compete with each other c. Pricing each product at the same level d. Raising prices on the low-margin products