False for sure you don't immediately stop when you let off the brake pedal.
        
                    
             
        
        
        
Answer
Price elasticiy of demand for business travelers: -0.16
Price elasticity of demand for vacationers: -0.29
Explanation:
To find the price elasticy of demand (PED) using the midpoint method, we use the following formula:
![PED = \frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1/2]}](https://tex.z-dn.net/?f=PED%20%3D%20%5Cfrac%7B%28Q2-Q1%29%2F%5B%28Q2%2BQ1%29%2F2%5D%7D%7B%28P2-P1%29%2F%5B%28P2%2BP1%2F2%5D%7D)
Where Q2 and P2 are the new quantity demanded and new price respectively, and Q1 and P1 are the old quantity demanded and price.
Plugging the amounts into the formula we obtain the results of the answer.
Because both results are in absolute value less than one (0.16 and 0.29), we can say that the PED of tickets, for both vacationers and Business traveleres, is relatively inelastic. (Demand falls less in proportion to the change in price).
 
        
             
        
        
        
Answer:
Lead time needed is approximately 1 day
Explanation:
In this question, we are asked to calculate the maximum number of lead days needed by a manufacturer to give a supplier 
We proceed as follows;
They want to be able to fully supply the customer at least 50 out of the 52 weeks. 
Mathematically; service probability = 50/52 = 0.96 or 96%
At 96% service level value of Z = 1.75
Standard deviation of daily demand (σd) = 50 units
Safety stock = 100 units
Suppose lead time = L
Safety stock = Z × σ d × √L
 100 = 1.75 × 50 × √L
=100 = 87.5 × √L
 √L = 100/87.5
 √L = 1.142857142
L = 1.142857142^2
 L = 1.306122448