Answer:
abt 8.77
Step-by-step explanation:
Answer:
The answers to the questions are;
B. increases.
C. inelastic; increase.
Step-by-step explanation:
The price elasticity of demand for a linear demand in absolute value curve becomes smaller and smaller as we move downwards of the curve.
When the price elasticity of demand is calculated along a linear demand curve. This is so as for each pair of points at which the price elasticity of demand is calculated, the quantity demanded and the price change are somewhat similar, but as we move towards the top of the demand curve, the high prices and the low quantities shows the increase in demand elasticity.
Also in the inelastic region, as it can be shown by the areas of the rectangles formed by to adjacent price points, increase in price, increases the total revenue.
Answer:
And we can find this probability with the following difference:
And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.
Step-by-step explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Solution to the problem
Let X the random variable that represent the number of gallons of a population, and for this case we know the distribution for X is given by:
Where
and
We are interested on this probability
And the best way to solve this problem is using the normal standard distribution and the z score given by:
If we apply this formula to our probability we got this:
And we can find this probability with the following difference:
And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.
Answer:
The answer is B
Step-by-step explanation: