Answer:
P-value ≈ 0.3463
Step-by-step explanation:
Hypothesis test would be
:p=0.20
:p>0.20
We need to calculate the z-score of sample proportion and then the corresponding P-value.
z-score can be calculated as:
z= where
Using the numbers
z= =0.3953
and the P-value is then P(z)≈0.3463
The ratio X/Y for the fictitious company, Teslala, that produces a single type of electronic vehicle, Model Z is 10/pY.
<h3>What is a mathematical model?</h3>A mathematical model is the model which is used to explain the any system, the effect of the components by study and estimate the functions of systems.
Consider a fictitious company, Teslala, that produces a single type of electronic vehicle, Model Z.
The demand for Model Z depends on the gasoline price (q) because customers tend to purchase an electronic vehicle as a substitute for vehicles that run on gasoline when the gasoline price increases.
The demand for Model Z is estimated as
Here, <em>p</em> is the price of Model Z.
Consider the following two statements:
Put the value of demand at the revenue-maximizing price as,
Thus, the ratio X/Y for the fictitious company, Teslala, that produces a single type of electronic vehicle, Model Z is 10/pY.
Learn more about the mathematical model here;
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