U.S Civilian Labor Force Participation Rate, Civlian Unemployment Rate and RealDescription Use the data in Table 1.1 entitled Civilian Labor Force Participation Rate (CLFPR), Civilian Unemployment Rate (CUNR), and Average Hourly Earnings (AHE) to estimate the following multivariable regression model using EVIEWS: A. Do the partial regression coefficients have the expected sign? Are they significant? B. Does the model fit the data well? C. Does the model support the discouraged worker or added worker hypothesis?.

1. U.S. Lab manufactures mechanical heart valves from the heart valves of pigs. Different heart
operations require valves of different sizes. U.S. Lab purchases pig valves from three different
suppliers. The cost and size mix of the valves purchased from each supplier is given in the
following Table. Each month, U.S. Lab places one order with each supplier. At least 500 large, 300
medium, and 300 small valves must be purchased each month. Because of the limited availability
of pig valves, at most 700 valves per month can be purchased from each supplier. (a) Do the
following requirements i) Formulate an LP that can be used to minimize the cost of acquiring the
needed valves. ii) Using Solver in Excel to find out the optimal solution and the minimal cost of the
problem. (20 marks) (b) U.S. Lab considers decreasing the number of Large sizes and adding to
the Small size. i) What would be the optimal solution? ii) What would be the difference in cost?