Answer:
a) P(x)=14x-224,000 and b) P(21,000)=70,000.
Step-by-step explanation:
a.) Use the formulas shown to write the company's profit function, P, from producing and selling x radios.
The company's profit is given by its revenue minus the production cost. Then, the profit function P(x) will be given by
b.) Find the company's profit if 21,000 radios are produced and sold
To obtain the company's profit we just need to substitute the value given (x=21,000) in the formula 1). Therefore,
.
Answer:
The 95% confidence interval for the population variance is (8.80, 32.45).
Step-by-step explanation:
The (1 - <em>α</em>)% confidence interval for the population variance is given as follows:
It is provided that:
<em>n</em> = 20
<em>s</em> = 3.9
Confidence level = 95%
⇒ <em>α</em> = 0.05
Compute the critical values of Chi-square:
*Use a Chi-square table.
Compute the 95% confidence interval for the population variance as follows:
Thus, the 95% confidence interval for the population variance is (8.80, 32.45).
