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slava [35]
3 years ago
15

The demand function for a certain make of exercise bicycle sold exclusively through cable television is p=9−0.02x−−−−−−−−√(0≤x≤4

50) where p is the unit price in hundreds of dollars and x is the quantity demanded per week. Compute the elasticity of demand and determine the range of prices corresponding to inelastic, unitary, and elastic demand. Hint: Solve the equation E(p)=1.

Mathematics
1 answer:
nirvana33 [79]3 years ago
7 0

Answer:

Step-by-step explanation:

  • The concept of demand is applied, demand may be elastic, inelastic and unitary as the detailed steps and calculations is as shown in the attached file.
  • For elastic demand, P > 1
  • For inelastic demand, P < 1
  • For unitary, P = 1

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The data below shows the minimum wage requirement of the u.s government in years,x, after 1960. Based on the data provided what
mixas84 [53]

Answer:

<em>Option c</em>

Step-by-step explanation:

<u>Best Fit Regression Model </u>

When experimental data is collected, scientists frequently ask themselves if there is a relationship between some of the variables under study. It's crucial in modern times where artificial intelligence technology is trying to find key answers where traditional approaches hadn't before.

One of the most-used tools to find relations between variables is the regression model and its best fit lines to try to find an expression who relates variable x (years from 1960) and variable y (minimum wage requirement) as of our case.

The provided data was entered into a digital spreadsheet and an automatic function was applied to find the best-fit model.

We found this equation:

y=0.11363x+0.6906

when rounded to three decimal places, we find

y=0.114x+0.691

Which corresponds to the option c.

7 0
3 years ago
John Calipari, head basketball coach for the 2012 national champion University of Kentucky Wildcats, is the highest paid coach i
MrRissso [65]

Answer:

A) sample mean = $1.36 million

B) standard deviation = $0.9189 million

C) confidence interval = ($1.93 million , $0.79 million)

*since the sample size is very small, the confidence interval is not valid.

Step-by-step explanation:

samples:

  1. $2.7 million
  2. $2.4 million
  3. $2.2 million
  4. $2 million
  5. $1.5 million
  6. $1.5 million
  7. $0.5 million
  8. $0.5 million
  9. $0.2 million
  10. $0.1 million

sample mean = $1.36 million

the standard deviation:

  • $2.7 million - $1.36 million = 1.34² = 1.7956
  • $2.4 million - $1.36 million = 1.04² = 1.0816
  • $2.2 million - $1.36 million = 0.84² = 0.7056
  • $2 million - $1.36 million = 0.64² = 0.4096
  • $1.5 million - $1.36 million = 0.14² = 0.0196
  • $1.5 million - $1.36 million = 0.14² = 0.0196
  • $0.5 million - $1.36 million = -0.86² = 0.7396
  • $0.5 million - $1.36 million = -0.86² = 0.7396
  • $0.2 million - $1.36 million = -1.16² = 1.3456
  • $0.1 million - $1.36 million = -1.26² = 1.5876
  • total $8.444 million / 10 = $0.8444 million

standard deviation = √0.8444 = 0.9189

95% confidence interval = mean +/- 1.96 standard deviations/√n:

$1.36 million + [(1.96 x $0.9189 million)/√10] = $1.36 million + $0.57 million = $1.93 million

$1.36 million - $0.57 million = $0.79 million

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Which is bigger .24 or .71
monitta

Answer:

.71

Step-by-step explanation:

7 0
3 years ago
If Shane’s average number of jumps completed is greater than one-half, then the
Norma-Jean [14]

Ok so, it all depends if Shane is likely to jump win over all of the other seventh graders then the eighth graders should earn the 50 points...

But if the roles are reversed the the Seventh graders should earn the 50 points.

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