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katrin2010 [14]
3 years ago
14

Suppose the quantity demanded, q, of a product when the price is p dollars is given by the equation p = 462 − 5 q , and the quan

tity supplied is given by the equation p = 2 q . Find the equilibrium price and quantity.
Mathematics
1 answer:
Elena L [17]3 years ago
5 0

Answer:

q = 66

P = 132

Step-by-step explanation:

To get the equilibrium price, we need to find the price at which the quantity demanded equals the quantity supplied.

Now we equate the equations of the demanded quantity and the supplied quantity:

462 - 5q = 2q

7q = 462

q = 462/7 = 66

The price at this level is obtained by substituting the value of q into any of the equation

Using P = 2q

P = 2 * 66 = 132

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The data show systolic and diastolic blood pressure of certain people. Find the regression​ equation, letting the first variable
MakcuM [25]

Full Question:

The data show systolic and diastolic blood pressure of certain people. Find the regression equation, letting the first variable be the independent (x) variable. Find the best predicted diastolic pressure for a person with a systolic reading of 113. use a significance level of 0.05.

Systolic| 150 129 142 112 134 122 126 120

Diastolic| 88 96 106 80 98 63 95 64

a. What is the regression equation?

^y = __ + __x (Round to two decimal places as needed.)

b. What is the best predicted value?

^y is about __ (Round to one decimal place as needed.)

Answer:

A. yhat = a + bx = -10.64 + 0.75x

B. 74.0

Step-by-step explanation:

A. To find the regression equation here, we apply the formulas and then apply it to find the value of y given value of x:

calculate xbar and ybar which is the average of the variables:

Where n(number of values in x or y)=8

xbar = sum of x/n = 129.375

ybar = sum of y/n = 86.25

to calculate b

b= [Sum x^2 * Sum y - Sum x * Sum x*y] / [N*Sum x^2 - (Sum x)^2]

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a = ybar - b * xbar = -10.64023

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y = -10.64023 + 0.74891 * 113

y= 74.0

5 0
3 years ago
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