×
Log in to StudySoup
Get Full Access to Linear Algebra And Its Applications - 5 Edition - Chapter 2.6 - Problem 14e
Join StudySoup for FREE
Get Full Access to Linear Algebra And Its Applications - 5 Edition - Chapter 2.6 - Problem 14e

Already have an account? Login here
×
Reset your password

[M] The demand vector in Exercise 13 is reasonable for

Linear Algebra and Its Applications | 5th Edition | ISBN: 9780321982384 | Authors: David C. Lay; Steven R. Lay; Judi J. McDonald ISBN: 9780321982384 49

Solution for problem 14E Chapter 2.6

Linear Algebra and Its Applications | 5th Edition

  • Textbook Solutions
  • 2901 Step-by-step solutions solved by professors and subject experts
  • Get 24/7 help from StudySoup virtual teaching assistants
Linear Algebra and Its Applications | 5th Edition | ISBN: 9780321982384 | Authors: David C. Lay; Steven R. Lay; Judi J. McDonald

Linear Algebra and Its Applications | 5th Edition

4 5 1 401 Reviews
20
2
Problem 14E

[M] The demand vector in Exercise 13 is reasonable for 1958 data, but Leontief’s discussion of the economy in the reference cited there used a demand vector closer to 1964 data:

Find the production levels needed to satisfy this demand.

Reference Exercise 13:

[M] The consumption matrix C below is based on input–output data for the U.S. economy in 1958, with data for 81 sectors grouped into 7 larger sectors: (1) nonmetal household and personal products, (2) final metal products (such as motor vehicles), (3) basic metal products and mining, (4) basic nonmetal products and agriculture, (5) energy, (6) services, and (7) entertainment and miscellaneous products.2 Find the production levels needed to satisfy the final demand d. (Units are in millions of dollars.)

Step-by-Step Solution:

Solution

Step 1:

Let

 

It turns out  is invertible.

Here for the final demand  ,the solution to  is easy with computer software such as Matlab.

Rounded to 4 places,matlab gives

So,

Step 2 of 1

Chapter 2.6, Problem 14E is Solved
Textbook: Linear Algebra and Its Applications
Edition: 5
Author: David C. Lay; Steven R. Lay; Judi J. McDonald
ISBN: 9780321982384

This textbook survival guide was created for the textbook: Linear Algebra and Its Applications , edition: 5. The full step-by-step solution to problem: 14E from chapter: 2.6 was answered by , our top Math solution expert on 07/20/17, 03:54AM. The answer to “[M] The demand vector in Exercise 13 is reasonable for 1958 data, but Leontief’s discussion of the economy in the reference cited there used a demand vector closer to 1964 data: Find the production levels needed to satisfy this demand.Reference Exercise 13:[M] The consumption matrix C below is based on input–output data for the U.S. economy in 1958, with data for 81 sectors grouped into 7 larger sectors: (1) nonmetal household and personal products, (2) final metal products (such as motor vehicles), (3) basic metal products and mining, (4) basic nonmetal products and agriculture, (5) energy, (6) services, and (7) entertainment and miscellaneous products.2 Find the production levels needed to satisfy the final demand d. (Units are in millions of dollars.)” is broken down into a number of easy to follow steps, and 121 words. Linear Algebra and Its Applications was written by and is associated to the ISBN: 9780321982384. Since the solution to 14E from 2.6 chapter was answered, more than 263 students have viewed the full step-by-step answer. This full solution covers the following key subjects: products, data, demand, levels, satisfy. This expansive textbook survival guide covers 65 chapters, and 1898 solutions.

Other solutions

People also purchased

Related chapters

Unlock Textbook Solution

Enter your email below to unlock your verified solution to:

[M] The demand vector in Exercise 13 is reasonable for