18.25%
0.05% x 365 (days in a year)
Answer:
B. each customer's reservation price.
Explanation:
Reservation price is the highest amount a buyer would be willing to pay for a good or service.
I hope my answer helps you
Answer:
a. 2.13. b. (30.53, 34.79). c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.
Explanation:
The size of the sample is 42 and the mean of the sample is ∑
= 32.66 and the standard deviation of the sample (σ) is √[∑(
-μ)^2 - 1] = √46.6092 = 6.8271
a. α = 1 - (95/100) = 0.05; α/2 = 0.025; the degree of freedom = n-1 = 42-1 = 41; tα/2 = t0.025 = 2.02. Thus, the error margin = (tα/2)*(σ/√n) = 2.02*(6.83/√42) = 2.1279
b. Lower level limit = 32.66 - 2.1279 = 30.5321; Upper level limit = 32.66+2.1279 = 34.7879. The interval estimate = (mean± margin of error) = (30.53, 34.79).
c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.
Answer: Under the Equal Pay Act: <u>"d. Wage differentials based on a seniority system are allowed.".</u>
Explanation: The Equal Pay Act states that no employer should discriminate based on sex when paying wages for equal work in jobs But that wage differences can be established according to an seniority system (is allowed).
Answer: The higher the risk, the higher the return.
Returns from an investment refers to the gains or losses over a specified period, and is quoted as percentage.
Risk refers to the possibility or the chance that the actual return that is earned is greater than or less than the return expected by the investor. Thus, uncertainty is another name for risk.
If the returns from an investment are certain, the risk involved is low. When risk is low, the returns are also low. For e.g. the return from a T-bill is low because the risk of default is zero, since the government can print money to fund its debt.
The higher the level of risk involved, the greater the potential for a higher return.
