Solution:
Let's start by assuming that the taxi ride demand is extremely elastic, to the extent that it is vertically sluggish! If the cabbies raise the fair price by 10% from 10.00 per mile to 11.00 per kilometre, the number of riders remains 20.
Total income before fair growth= 20* 10= 200.
Total income following fair growth = 11* 20= 220.
A 10% increase in the fare therefore leads to a 10% increase in the driver's revenue.
Therefore, the assumption in this situation is that the cab drivers think the taxi driving requirement is highly inelastic.
The demand curve facing the drivers of the cab is still inelastic, but not vertically bent.
When the rate increased from 10% to 11, riders declined from 20% to 19%
Total revenue before fair growth is 20* 10= 200
The gap between revenue and fair growth is 19* 11= 209
This means that a realistic 10% raise doesn't result in a 10% boost on income Because the market curve for taxi rides is not 100% inelastic, but rather low inelastic, so that a fair increase (control) allows consumers to lose their incomes.
Answer: false
Explanation:
CSR behavior are simply behavioral aspects of CSR. According to the definition of corporate social responsibility, companies should conduct their business in a way that gives back to the society at large.
The statements that there' little relationship between CSR behaviors and consumer reaction to the products and services of the firm according to survey results listed in the Harvard Business Review is not true.
Answer:
a. The cost of the marble will be expensive because of the bargaining power of the supplier.
Explanation:
The 95% confidence interval will be wider than the 90% confidence interval.
In statistics, the likelihood that a population parameter will fall between a set of values for a certain percentage of the time is referred to as a confidence interval. Analysts frequently employ confidence ranges that include 95% or 99% of anticipated observations. Therefore, it may be concluded that there is a 95% likelihood that the real value falls within that range if a point estimate of 10.00 with a 95% confidence interval of 9.50 - 10.50 is derived using a statistical model.
- The level of certainty or uncertainty in a sampling process is measured by confidence intervals.
- Additionally, they are employed in regression analysis and hypothesis testing.
- To determine statistical significance, statisticians frequently combine confidence intervals with p-values.
- 95% or 99% confidence levels are most frequently used in their construction.
Learn more about Confidence interval, here
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Answer:
Decision tree
Explanation:
The decision tree provides the alternatives and allocated the value and weight for each and every alternative in order to become easier to take the decision that depend on the amount and weight allocated to each alternative
It helps in decision making
So as per the given situation the decision tree is the answer
Hence, the second option is correct
