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Charra [1.4K]
4 years ago
15

"parents with children list a gps system (28%) and a dvd player (28%) as "must have" accessories for a road trip.12 suppose a sa

mple of n 1000 parents are randomly selected and asked what devices they would like to have for a family road trip. let ˆp be the proportion of parents in the sample who choose either a gps system or a dvd player"
Business
1 answer:
Helga [31]4 years ago
8 0
<span>If 28 percent of parents state GPS and another 28 percent of parents state DVD player as most important, that would mean 56 percent of parents deem one or the other as the most important piece of equipment for a roadtrip. 56 percent of 1000 equals 560 out of 1000 parents chose a GPS or DVD player.</span>
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The reverse happens when there is a shortage. When there is less supply in the market, price increases.

Surplus and shortage in a competitive market, therefore, will cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.

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3 0
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I really hope this helps!
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