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Sergeu [11.5K]
4 years ago
10

A firm knows that Seneca's income elasticity of demand for hair ties is 5; for Janelle, it is 0.2. A firm can reason thatla hair

tie is a(n) _ _good for Seneca while it is a(n)_good for Janelle. A. inferior; normal B. complement; substitute C. necessity; luxury D. normal; inferior E. luxury; necessity
Business
1 answer:
Lilit [14]4 years ago
3 0

Answer: E. luxury; necessity

Explanation:

Income elasticity of demand is a measure of how the demand for a good or service change when people's income changes. It the ratio of the percentage change in quantity demanded to the percentage change in income.

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How would potential customers most likely self-identify as your target customers?
umka21 [38]

Here are some tips to help you define your target market.
Look at your current customer base.
Check out your competition.
Analyze your product/service.
Choose specific demographics to target.
Consider the psychographics of your target.
Evaluate your decision.
Additional resources.
4 0
2 years ago
Forty-three percent of Americans use social media and other websites to voice their opinions about
rjkz [21]

Answer:

(a) 0.2896 (b) 0.5029 (c)0.5758 (d)In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

Explanation:

Solution

(a)In a survey of 1,364 people, 395 were females who used social media and 232 did not. of males 232 use social media and 355 did not

To make or develop a probability table, take each group and divide their number by their total for example female that use social media is 395 of a total of 1364

395/1364 =0.2896

The probability that a woman uses social media in the survey is 0.2896

so,

                                  A              B              T

Female                  0.2896       0.2133      0.5029

Male                      0.2368       0.2603     0.4971

Total                      0.5264      0.4736       1.00

(b) To find the probability  of a surveyed person being a female, we divivde the total number of females by the whole number, shown below

686/1364 = 0.5029

(c)Conditional probability is defined using the formula which is shown below:

P(A/B) = P(A∩B)/P(B)-------(1)

Where P(A∩B) is the probability of females that use social media 0.2896 and P(B) is the total female probability which is 0.5029

Now we substitute the values in the equation 1 and calculate the probability as shown below:

P(A/B) = 0.2896/0.5029 =0.5758

the conditional probability that are surveyed person is female and uses social media is 0.5758

(d) In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

3 0
3 years ago
In order to be hired for a position at the local hospital, a person must meet with
iragen [17]

Answer:

It is either Human Resources Managment or Business Information Management

6 0
3 years ago
*economics*<br> What happens when a country's central bank raises the discount rate 10<br> banks?
Neporo4naja [7]
The answer is D
Explanation: I took this quiz before
7 0
3 years ago
Read 2 more answers
Cost Flow Relationships The following information is available for the first year of operations of Creston Inc., a manufacturer
babunello [35]

Answer:

The answer is

A. $955,700

B. $570,900

C. $734,400

Explanation:

A. Cost of sales

Gross profit = Sales - Cost of sales.

Therefore, Cost of sales will now be:

Sales - Gross profit

$1,309,200 - $353,500

=$955,700

B. Direct materials cost

Direct materials cost = material purchased - indirect materials - ending material Inventory

$667,700 - $48,400 - $48,400

=$570,900

C.Direct labor cost

Direct labor cost = manufacturing costs for the period - Direct materials cost - Other factory overhead - Indirect labor

$1,445,400 - $570,900 - $22,300 - $117,800

=$734,400

7 0
4 years ago
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