Considering the given discrete probability distribution, it is found that there is a 0.36 = 36% probability that Hugo buys fewer than 3 packs.
<h3>What is the discrete probability distribution?</h3>
Researching on the internet, it is found that the discrete probability distribution for the number of packs that Hugo buys is given by:
The probability that he buys fewer than 3 packs is given by:
P(X < 3) = P(X = 1) + P(X = 2).
Hence:
P(X < 3) = P(X = 1) + P(X = 2) = 0.2 + 0.16 = 0.36.
There is a 0.36 = 36% probability that Hugo buys fewer than 3 packs.
More can be learned about discrete probability distributions at brainly.com/question/24855677
Answer:
Grown financially
Explanation:
America almost needed to multiply a dollar twice to get an exact Euro
5 is the answer to your question
The attached graph shows the required curves to be drawn. One of the curves is called the Marginal Revenue Curve.
<h3>What is a marginal revenue curve?</h3>
At the market price, the marginal revenue curve is a horizontal line, suggesting completely elastic demand, and it is equal to the demand curve.
Monopoly occurs when one corporation is the exclusive vendor of a distinct product in the market.
Learn more bout marginal revenue curve at;
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Full Question:
The graph shows the market for smart rackets.
Suppose the profit-maximizing output is 160,000 smart rackets.
Draw the firm's marginal revenue curve. Label it MR.
Draw the firm's marginal cost curve. Label it MC.
Draw a point at the profit-maximizing output and price.
Draw a shape to show the firm's economic profit. Label it.