Explain the difference between collusive and non collusive oligopoly market
1 answer:
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Answer:
We reject the null hypothesis and accept the alternate hypothesis. Thus, it be concluded that the population mean is less than 20.
Step-by-step explanation:
We are given the following in the question:
Population mean, μ = 60
Sample mean, = 19.5
Sample size, n = 60
Alpha, α = 0.05
Population standard deviation, σ = 1.8
First, we design the null and the alternate hypothesis
We use One-tailed z test to perform this hypothesis.
Formula:
Putting all the values, we have
Now,
Since,
We reject the null hypothesis and accept the alternate hypothesis. Thus, it be concluded that the population mean is less than 20.
Answer:
It cost $8 per person to get into the carnival
Step-by-step explanation:
Let the entry cost be y
Let Cost of 1 game be x
Cost of 5 games = 5x
Cost of 12 games = 12x
Frankie played 5 games and spent $15.50 altogether.
So, --- A
Maria played 12 games and spent $26 altogether.
So, -- B
Plot the lines
--- Black color
--- Red color
Intersection point provides the solution
(x,y)=(1.5,8)
So, it cost $8 per person to get into the carnival
