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3 years ago

Which of these scenarios involves commodity money?

2 answers:

4 0

Money is a kind of asset in an economy that is castoff to purchase goods and amenities from other people. A commodity is a physical thing that is willingly substitutable with one more item of the same type. Commodity money is a commodity that has intrinsic value. Intrinsic value is the commodity has worth though it is not used as money. So the answer is a woman offers her neighbor a US silver dollar in exchange for a bicycle.

Reptile [31]3 years ago

4 0

A commodity is a physical thing that is willingly substitute with one more item of the same type.

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Suppose N= 15 and r=4. What is the probability of x = 3 for n = 10 (to 4 decimals)?

worty [1.4K]

Using the Hypergeometric distribution principle, the probability of X = 3 in the function is 0.4396

Defining an hypergeometric distribution function :

$P(X = k) = \frac{ \binom{r}{k} \binom{N - r}{n - k} }{ \binom{N}{n} }$

The parameters given :

N = 15
r = 4
X = 3
n = 10

$P(X = 3) = \frac{ \binom{4}{3} \binom{15 - 4}{10 - 3} }{ \binom{15}{10} } = \frac{ \binom{4}{3} \binom{11}{7} }{ \binom{15}{10} }$

Using Combination :

Recall : nCr = n! ÷ (n-r)!r!

Using a calculator :

$P(X = 3) = \frac{ \binom{4}{3} \binom{15 - 4}{10 - 3} }{ \binom{15}{10} } = \frac{ \binom{4}{3} \binom{11}{7} }{ \binom{15}{10}} = \frac{(4 \times 330)}{3003} = \frac{1320}{3003} = 0.4396$

Therefore, the probability of X = 3 in the hypergeometric function is 0.4396 (rounded to 4 decimal places).

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Sheridan, Inc. currently manufactures a wicket as its main product. The costs per unit are as follows:

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Answer

Sheridan should buy because doing so would save it $5900

Explanation

To determine the right course of action we will consider the relevant cost of making and buying

The relevant cost of making $

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