Pb6.
lo 2.3gadell farms produces venison sausage that is distributed to grocery stores throughout the southeast. they have collected this shipping cost data:

prepare a scatter graph of the shipping data. plot cost on the vertical axis and tons produced on the horizontal axis. is the relationship between packaging costs and tons produced approximately linear? draw a straight line through the scatter graph.
using the high-low method, estimate the cost formula for gadell farms’ packaging costs.
the least-squares regression method was used and the analysis resulted in this cost equation: y = 1650 + 78.57x. comment on the accuracy of your high-low method estimation.
what would you estimate packaging costs to be if gadell farms shipped 10 tons in a single month? use the cost formula you obtained in part b. comment on how accurately this is reflected by the scatter graph you constructed.
what factors other than number of tons produced do you think could affect gadell farm’s packaging expense? explain.

Which job role belongs in the middle management level? a. president b. chief executive officer c. department manager d. chief operating officer e. vice president

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Amanda rice has just arranged to purchase a $640,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has a 7 percent apr compounded monthly and calls for equal monthly payments over the next 30 years. her first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. there were no other transaction costs or finance charges. how much will amanda’s balloon payment be in eight years