Jonh missed 4 out of 25 question on a quiz what precent did he get correct
1 answer:
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Answer:
a) Demand function:
b) The rebate should be of $200, so the sale price becomes $300 per unit.
c) The rebate should be of $150, so the sale price becomes $350 per unit.
Step-by-step explanation:
a) In this case, we have a known point of the demand function (1000 units sold at $500), and the slope of a linear function (increase by 100 units fora decrease in $10).
We can express the demand function (linear) as:
To calculate the slope m, we use:
To calculate b, we use the known point and the calculated slope:
Then the demand function is:
b) The revenue can be expressed as:
To maximize, we can derive and equal to zero
The rebate should be of $200, so the sale price becomes $300 per unit.
c) If we take into account the cost, we have that
To maximize, we can derive and equal to zero
The rebate should be of $150, so the sale price becomes $350 per unit.
Answer:
The standard deviation would have to be 0.05.
Step-by-step explanation:
We can solve this problem using the 68-95-99.7 rule for normal distributions:
The rule states that:
68% of the measures are within 1 standard deviation of the mean.
95% of the measures are within 2 standard deviations of the mean.
99.7% of the measures are within 3 standard deviations of the mean.
What would the value of σ have to be to ensure that 95% of all readings are within 0.1° of μ?
This means that 2 standard deviations would need to be within 0.1 of the mean. So
The standard deviation would have to be 0.05.