The following table shows the yearly income of a company: Year 2017 2018 2019 2020 2021 2022 2023 Income (Rs millions) 52 54 61 59 62 60 65 Obtain…
BBA Business Mathematics - I · 2024 · Solved Question with Answer
The following table shows the yearly income of a company:
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Income (Rs millions) | 52 | 54 | 61 | 59 | 62 | 60 | 65 |
Obtain the equation of line by least squares method. Also, estimate the income of the company for the years 2024 and 2026.
question_19: | In an economy which engages in foreign trade, it is assumed that Y = C + I + G + X - M, where \( C = C_0 + 0.8Y_d \), \( C_0 = 90\text{m} \), \( I = 500\text{m} \), \( G = 700\text{m} \), \( X = 250\text{m} \), \( M = 0.3Y_d \), \( t = 0.4 \), \( Y_d = Y - T \), T = tY.
Find the expenditure equation and hence find the equilibrium level of national income and consumption. Also, calculate the total tax.