Use the Following to Answer Questions

question 8

Multiple Choice

Use the following to answer questions
A researcher is interested in forecasting the house price index in Country Z. The observed price index values from 1996 to 2000 are 101, 103 104, 107 and 111. The researcher uses two different forecasting models, A and B. The forecasts for the price index using Model A are 100.5, 102.4, 103.2, 106 and 111 whilst the forecast using Model B are 100.8, 102.2, 104, 104.2 and 112.1.
-What are the closest to the mean absolute errors from models A and B?

• A) 0.58 and 0.98, respectively
• B) 0.98 and 0.58, respectively
• C) 0.45 and 1.95, respectively
• D) 1.95 and 0.45, respectively

Explain the roles and types of symbiotic and parasitic relationships between plants and other organisms.

Describe how soil composition and texture influence plant nutrient availability and soil fertility.

Analyze the ecological and biological significance of carnivorous plants.

Understand the essential and non-essential elements required for plant nutrition.

---

Definitions:

Competitive Industry

An industry structure with many firms competing against each other offering similar products or services, leading to lower prices and innovation.

Marginal Revenue

The additional income received from selling one more unit of a good or service; this is crucial for businesses in determining how many units to produce.

Average Revenue

The total revenue generated by a firm divided by the quantity of goods or services sold, indicating the average amount of money made per unit.

Competitive Firms

Enterprises that operate in a market where they have to compete against other firms for the same customers or resources.