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.
1 answer:
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Answer:
1c
1d
Step-by-step explanation:
From the question we are told that
The probability of telesales representative making a sale on a customer call is
The mean is
Generally the distribution of sales call made by a telesales representative follows a binomial distribution
i.e
and the probability distribution function for binomial distribution is
Here C stands for combination hence we are going to be making use of the combination function in our calculators
Generally the mean is mathematically represented as
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Generally the least number of calls that need to be made by a representative for the probability of at least 1 sale to exceed 0.95 is mathematically represented as
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taking natural log of both sides
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