It is evident from the problem statement that an overall price reduction of Nike air max shoes will lead to an increase in the demand for the shoe.
In Economics, the relationship between price and demand is stated as follows <em>"If all other factors remain equal, the higher the price of a good, the </em><em>fewer</em><em> people will </em><em>demand</em><em> that </em><em>good</em><em>. In other words, the </em><em>higher</em><em> the price, the </em><em>lower</em><em> the </em><em>quantity</em><em> demanded and vice versa."</em>
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In all, the Law of Demand tells us that if more people want to buy something, given a limited supply, the price of that thing will be bid higher, also of the price of something is low the demand will be high.
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To find the linear equation, use the slope formula y = mx+b, where b is the value of the y-intercept and m is rise/run.
The line rises 1 unit and runs (left to right) -5 units. (you could also say the line runs -1 units and runs 5 units, they will both give the same answer). Rise/run, 1/-5 = -1/5.
The y-intercept is the y value where the line touches the y-axis. In this case, it is +1.
Plug the information into the equation. m = -1/5 and y = 1. y = -1/5x + 1
Answer:
17.1≤x≤23.1
Step-by-step explanation:
The formula for calculating the confidence interval is expressed as;
CI = x ± z*s/√n
x is the mean yield = 20.1
z is the 80% z-score = 1.282
s is the standard deviation = 7.66
n is the sample size = 11
Substitute
CI = 20.1 ± 1.282*7.66/√11
CI = 20.1 ± 1.282*7.66/3.3166
CI = 20.1 ± 1.282*2.3095
CI = 20.1 ±2.9609
CI = (20.1-2.9609, 20.1+2.9609)
CI = (17.139, 23.0609)
hence the required confidence interval to 1dp is 17.1≤x≤23.1
Answer:
a
Step-by-step explanation:
Answer:
64.6 km/h
Step-by-step explanation:
18:14 = 18h 14'
1h = 60'
18h = 17h + 60'
18h14' = 17h + 60' ´14' = 17h 74'
then:
17h 74'
-17h 22'
= 0h 52'
the train travelled 56km at 52 minutes
56km/52minutes
1 hour = 60 minutes
52 minutes = 52/60 = 0.86667 hours
then:
56km/52minutes = 56km/0.86667hours
= 64.615 km/hours
