The velocity of circulation is 4 and the quantity of money is $3 billion.

Advanced Placement (AP)

1 answer:

musickatia [10]1 year ago

3 0

The GDP is $12 billion.

<h3>What is Velocity of circulation in Economics?</h3>

In Economics, Velocity of circulation refers to the circulation of the amount of the money during a given period of the time. The calculation of the velocity of circulation is done by dividing GDP by the country's total money supply.

The Gross domestic product (GDP) is the standard measurement of the total value of the goods and services produced in the country in the given period of time.

According to the question, Velocity of Circulation is 4 and quantity of money is $3 billion.The calculation of the GDP is as follows:-

Gross domestic product = 4×3 billions

= $ 12 billions

Learn more about Velocity of circulation here:

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<h3>What is probability? </h3>

Probability can be defined as the likelihood of an event to occur. In statistics, the mean of the sample distribution typically shows the probability of the population.

From the parameters given:

The sample size (n) = 55 patients
Let's assume that the mean (x) = 32 (i.e. 58.2%) of the patients

The sample proportion $\mathbf{\hat p}$ can be computed by using the expression:

$\mathbf{\hat p = \dfrac{x}{n}}$

$\mathbf{\hat p = \dfrac{32}{55}}$

$\mathbf{\hat p =0.582}$

If the percentage of the probability of all patients in the emergency room = 0.75

The probability that the proportion of patients who wait less than 30 minutes is 0.582 or less can be computed as:

$\mathbf{( \hat P \leq 0.582) = P \Big( \dfrac{\hat p - p}{\sqrt{\dfrac{p(1-p)}{n}}} \leq \dfrac{0.582 - 0.75}{\sqrt{\dfrac{0.75(1-0.75)}{55}}} \Big )}$