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Thepotemich [5.8K]
4 years ago
13

A business journal reports that the probability that Internet users in the United States will use a mobile payment app is 0.60.

The journal claims this indicates that out of 5 randomly selected Internet users, 3 will use the mobile payment app. Is this business journal interpreting the probability correctly?
Advanced Placement (AP)
1 answer:
V125BC [204]4 years ago
6 0

Answer:

<u>Yes, the business journal is interpreting the probability correctly, because 3 out of 5 randomly selected Internet users that will use the mobile payment application, means that, 3/5, or 0.6 of probability. That is exactly the probability reported by the business journal.</u>

Explanation:

Probability that Internet users in the United States will use a mobile payment app is 0.60.

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A. Downward sloping

Explanation:

In Microeconomics, economies of scale can be defined as cost reductions or cost advantages that arises when a business entity is increases its production or are large in size.

This ultimately implies that, when an organization chooses a convenient scale of operation or reduce its scale of production, this would lead to a reduction in the cost of production and consequently, some benefits such as lower long-run average cost, increased sales, profits and lower cost price for the consumers of these finished products.

Generally, economies of scale is evident when employees are able to specialize in a specific task. This is so because having a good number of professionals and experts would increase the level of production or output, as they are quite conversant with the best method of production, time management and efficiency.

Hence, the shape of the long run average total cost (LRATC) for a firm experiencing economies of scale is horizontal and downward sloping.

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Religions and belief systems are known to have shaped us and are one that has also been shaped by societies and states in a lot of ways such as it have brought about better physical and mental health, longevity, and education.

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Religious practice is known to be a tool that has brought about the well-being of people, families and the community as a whole.

The act of Religious worship has brought a great reduction in the problem of domestic abuse, crime, substance abuse, and others.

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The correct answer to this open question is the following.

You forgot to include the options for this question. However, we can answer this.

The process that describes how missionary activities changed the geographies of universalizing religions outside of their founding hearths was Expansion Diffusion.

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