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balandron [24]
2 years ago
10

2. Us i ng the filled table above,

Mathematics
1 answer:
VARVARA [1.3K]2 years ago
8 0

The price elasticity of demand of the pen will be -0.2.

<h3>How to compute the elasticity?</h3>

The demand and supply schedule will be:

Price Qd. Qs

$10. 250. 100

$20. 200. 90

$30. 180. 80

The price elasticity of demand from $1 to $2 will be:

= Percentage change in quantity demanded/percentage change in price

Percentage change in quantity demanded will be:

= (200 - 250)/250 × 100

= -20%

Percentage change in price will be:

= (20 - 10)/10 × 100

= 100%

Therefore, the elasticity of demand will be:

= -20/100

= - 0.2

The value gotten illustrates an inelastic demand.

In order to increase the total revenue, the price can be reduced as it will lead to more sales.

Learn more about PED on:

brainly.com/question/21105870

#SPJ1

<u>Complete question:</u>

Choose any product or service. Create the demand and supply schedule.

Calculate just one PED.

Is the demand elastic or inelastic?

What price change would you recommend to increase TR?

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Calculate the expected value, the variance, and the standard deviation of the given random variable X. (Round all answers to two
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Answer:

E (X) = 1.8

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σ = 0.6

Step-by-step explanation:

Solution:-

- Denote the random variable X : is the number of red marbles that Suzan has in her hand after she selects three marbles.

- Total sample space (bag) have the following quantity of colored marbles:

                Bag : { 3 Red , 2 Green }

- Suzan selects three marbles from the bag. The Event (X) defines the number of red marbles out of 3.

- The total number of outcomes / selections for randomly selecting 3 balls from the bag:

               All outcomes = 5 C 3 = 10

- The probability distribution of the random variable X, we will use combinations to determine the required probabilities:

  X = 1 red marble:

        P ( X = 1 ) : Suzan chooses 1 Red marble from the available 3 red marble and 2 green marbles.

        P ( X = 1 ) = [ 3C1*2C2 ] / all outcomes = (3*1) / 10 = 0.3

X = 2 red marble:

        P ( X = 2 ) : Suzan chooses 2 Red marble from the available 3 red marble and 1 green marbles.

        P ( X = 2 ) = [ 3C2*2C1 ] / all outcomes = (3*2) / 10 = 0.6

X = 3 red marble:

        P ( X = 3 ) : Suzan chooses 3 Red marble from the available 3 red marble.

        P ( X = 3 ) = [ 3C3] / all outcomes = (1) / 10 = 0.1

- The probability distribution is as follows:

          X :         1                 2                3

       P (X):       0.3            0.6              0.1

- The expected value E(X) for the given random variable X is:

                E ( X ) = ∑Xi*P(Xi)

                           = 1*0.3 + 2*0.6 + 3*0.1

                           =1.8

- The variance Var(X) for the given random variable X is:

                Var ( X ) = ∑Xi^2*P(Xi) - [ E(X) ] ^2

                               = 1^2*0.3 + 2^2*0.6 + 3^2*0.1 - 1.8^2

                               = 0.36

- The standard deviation for the given random variable X is:

                σ = √Var(X)

                σ = √0.36

                σ = 0.6

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