Answer:
eY is positive +0.1 therefore bagels are a normal good.
Step-by-step explanation:
Given data:
when, 10% rise in cheese price, 3% fall in bagels quantity observed
when, 10% rise in income, 1% fall in bagels quantity observed
from formula for cross price elasticity of demand, determine
As, eAB is negative, bagels $ cream cheese are complements.
By formula for income elasticity of demand,
we find that
Since eYis positive, bagels are a normal good.
Hi there!
The greatest common factor of 40 and 24 is 8.
8 goes into 40 5 times:
8 goes into 24 3 times.
We can rewrite this expression for distribution using the amount of times 8 goes into both numbers:
8(5 + 3)
Using this, we get:
8(5) + 8(3) = 40 + 24.
By testing the hypothesis we can conclude that the bag does not contain 11 kg of food.
Given mean of 10.6 kg, population standard deviation of 0.6 and sample size of 25.
We are required to find whether the company is right in saying that their bags contain 11 kg of food.
First we have to make hypothesis.
:μ≠11
:μ=11
We have to use t statistic because the sample size is less than 30.
t=(X-μ)/s/
We will use s/=0.6 because we have already given population standard deviation of weights.
t=(11-10.6)/0.6
=0.4/0.6
=0.667
Degree of freedom=n-1
=25-1
=24
T critical at 0.05 with degree of freedom 24=2.0639
T critical at 0.05 with degree of freedom is greater than calculated t so we will accept the null hypothesis.It concludes that the bags donot contain 11 kg of food.
Hence by testing the hypothesis we can conclude that the bag does not contain 11 kg of food.
Learn more about t test at brainly.com/question/6589776
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