In Developing an E-Commerce Presence, What Questions Must Be Asked

question 45

Essay

In developing an e-commerce presence, what questions must be asked and answered about the firm's target audience?

Understand the concept of simple linear regression, including how to represent the relationship between two quantitative variables.

Interpret confidence and prediction intervals within the context of linear regression.

Identify the appropriate statistical test for hypotheses concerning the slope in linear regression.

Analyze and interpret scatter plots and residual plots for assessing the fit of a linear regression model.

---

Definitions:

Demand Equals Supply

An equilibrium condition in markets where the quantity of a good demanded by consumers is equal to the quantity of the good supplied by producers.

Numeraire

is a standard unit of measurement in economic models used to express prices and exchange rates.

Edgeworth Box

A diagram used in economics to show the distribution of resources and the allocation of goods in a two-person, two-good economy.

Contract Curve

In economics, the curve that represents the set of Pareto efficient allocations in an Edgeworth Box diagram.