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Wittaler [7]
2 years ago
10

A new restaurant has introduced a wildly popular macaroni and cheese dish made with goat cheese. however, at approximately the s

ame time, an outbreak of disease has decreased the local goat population (without impacting the safety of goat cheese). how do the price and quantity of goat cheese change?
Business
2 answers:
bixtya [17]2 years ago
7 0

How do the price and quantity of goat cheese change? The price of goat cheese will likely rise because there is less being produced and able to be consumed. The quantity of goat cheese is not able to be determined by the information provided in the question.

Mekhanik [1.2K]2 years ago
6 0

Answer: Price increases and the effect on quantity cannot be determined.

Explanation: An outbreak of a disease leads to a decline in Goat population, as a result of this the supply of Goat Cheese also declines at given price level. The fall in supply will shift the supply curve up to the left,. A leftward shift in the supply curve will thus lead to a rise in the price of Goat cheese.

However, the effect of this change on quantity cannot be determined as we have no information on the changes in demand for goat cheese.

Thus, price of goat cheese will increase and change in quantity cannot be determined.

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A survey of entrepreneurs focused on their job characteristics, work habits, social activities, leisure time, etc. One question
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Answer: Hello below is the complete question

A survey of entrepreneurs focused on their job characteristics, work habits, social activities, leisure time, etc. One question put to each entrepreneur was, "What make of car (U.S., Europe, or Japan) do you drive?" The responses (number in each category) for a sample of 100 entrepreneurs are summarized below. The goal of the analysis is to determine if the proportions of entrepreneurs who drive American, European, and Japanese cars differ.

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In order to determine whether the true proportions in each response category differ, a one-way chi-square analysis should be conducted. Suppose the p-value for the test was calculated to be p=0.1738 . What is the appropriate conclusion to make when testing at α = 0.10?

Answer : The conclusion to be drawn is that We cannot reject the Null hypothesis if we use a one-way chi square analysis because at α = 0.1 from the chi-square  tabulated p-value = 0.584 while the calculated /given p-value is = 0.1738

Explanation:

Data given:

p-value = 0.1738

α = 0.10

sample size = 100

U.S cars = 40,      Europe cars = 35,   Japan cars = 25

The conclusion to be drawn is that We cannot reject the Null hypothesis if we use a one-way chi square analysis because at α = 0.1 from the chi-square  tabulated p-value = 0.584 while the calculated /given p-value is = 0.1738

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