Fifteen mid-western and mountain states have united in an effort to promote and forecast tourism. One aspect of their work has been related to the dollar amount spent per year on domestic travel (DTE) in each state. They have the following estimates for disposable personal income per capita (DPI) and DTE: State DPI DTE ($Millions)
Minnesota $17,907 $4,933
Iowa 15,782 1,766
Missouri 17,158 4,692
North Dakota 15,688 628
South Dakota 15,98 1,551
Nebraska 17,416 1,250
Kansas 17,635 1,729
Montana 15,128 725
Idaho 15,974 934
Wyoming 17,504 778
Colorado 18,628 4,628
New Mexico 14,587 1,724
Arizona 15,921 3,836
Utah 14,066 1,757
Nevada 19,781 6,455
a. From these data, estimate a bivariate linear regression equation for domestic travel expenditures (DTE) as a function of disposable income per capita (DPI):
b. Illinois, a bordering state, has asked that this model be used to forecast DTE for Illinois under the assumption that DPI will be $19,648.
c. Given that actual DTE turned out to be $7,754 (million), calculate the percentage error in your forecast.

Island novelties, inc., of palau makes two products—hawaiian fantasy and tahitian joy. each product's selling price, variable expense per unit and annual sales volume are as follows:

Afinancial institution, the thriftem bank, is in the process of formulating its loan policy for the next quarter. a total of $12 million is allocated for that purpose. being a full-service facility, the bank is obligated to grant loans to different clientele. the following table provides the types of loans, the interest rate charged by the bank, and the possibility of bad debt as estimated from past experience.type of loaninterest rateprobability of bad debtpersonal.140.10car.130.07home.120.03farm.125.05commercial.100.02 bad debts are assumed unrecoverable and hence produce no interest revenue either. competition with other financial institutions in the area requires that the bank allocate at least 40% of the total funds to farm and commercial loans. to assist the housing industry in the region, home loans must equal at least 50% of the personal, car, and home loans. the bank also has a stated policy specifying that the overall ratio for bad debts on all loans may not exceed .04. formulate this problem as a linear program. define your variables clearly and write all the constraints explaining the significance of each.

Atax on the sellers of coffee will a. increase the price of coffee paid by buyers, increase the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. b. increase the price of coffee paid by buyers, increase the e ffective price of coffee received by sellers, and decrease the equilibrium quantity of coffee. c. increase the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. d. increa se the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and decrease the equilibrium quantity of coffee.