The tutor compares big business with small business. In yesterday’s post I talked about firms in monopolistic competition – the situation characterized by negligible boundary to entry large number of small firms competing average long-run profit approx. zero Oligopoly is …
Economics: oligopoly vs monopolistic competition Read more »
The tutor looks into monopolistic competition and the long-run trend faced by its entrants. Monopolistic competition exists, in a given business, when there is free entry – that is, when starting a new enterprise engaged in that business is easy. …
Economics: small business: monopolistic competition Read more »
The tutor works a word problem to find time until market share equalization. Imagine a relatively new device, of which there are two competing versions, A and B. (We assume that no-one owns both.) The potential market is 100 million, …
Business math: a word problem about market share. Read more »
The tutor looks into the export of US dollars. Since sometime in the late 1970s, US imports have exceeded exports. More specifically, the US trade deficit has exceeded $500 billion per year over the last ten years. A casual observer …
The tutor shares a nice function that seems to work the same in Excel or LibreOffice Calc. The frequency() function tells, from an array of values and another of categories, the frequency in each category. A potential use is to …
Statistics: Spreadsheets: the frequency() function Read more »
The tutor explores the questions, from statistics, “What is a type I error? What is a type II error?”, with a couple of examples. In statistics, hypothesis testing is done when you think you know a value but want confirmation. …
Statistics: hypothesis testing: type I and type II errors Read more »
The tutor shows an example of the matched pairs t-test. In my post from Dec 11 I began about the matched pairs t-test. It’s used to determine if two samples come from the same population. In my previous post I …
The tutor shows how to get a graph and equation for data using LibreOffice Calc, in six easy steps. Let’s imagine your x-data is in a1:a5, your y-data, b1:b5. Select the range a1:b5. Click the Chart icon, which looks like …
Spreadsheets: LibreOffice Calc: how to get a graph and equation from data Read more »
The tutor explains the difference between power and exponential curves. According to Excel, a power equation has the form y=axb whereas an exponential equation has the form y=aekx Example: I tried both options on the following data: x y 0.5 …
Spreadsheets: regression curves: power vs exponential Read more »
The tutor shows how to use the logest() function to get an exponential curve from data. Excel’s logest() function returns parameters for the equation y=bm^x, according to data fed for x and y values. Let’s imagine the data is as …