It is evident from the problem statement that an overall price reduction of Nike air max shoes will lead to an increase in the demand for the shoe.
In Economics, the relationship between price and demand is stated as follows <em>"If all other factors remain equal, the higher the price of a good, the </em><em>fewer</em><em> people will </em><em>demand</em><em> that </em><em>good</em><em>. In other words, the </em><em>higher</em><em> the price, the </em><em>lower</em><em> the </em><em>quantity</em><em> demanded and vice versa."</em>
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In all, the Law of Demand tells us that if more people want to buy something, given a limited supply, the price of that thing will be bid higher, also of the price of something is low the demand will be high.
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Answer:3 is your answer
Step-by-step explanation:
3 x 6 = 18
Answer:
8 miles
Step-by-step explanation:
24/3 = 8
A1. 12 i.e option D
A2. 3n-7 i.e option A
A3. -6n+20 i.e option D
A4. -70 i.e option C
Step-by-step explanation:
aₙ = a₁ + (n - 1) × d
aₙ = the nᵗʰ term in the sequence
a₁ = the first term in the sequence
d = the common difference between terms
Using the above formula to solve the first part, we have :
For the second part, we have :
For the third part, we have :
For the fourth part, we have :
Answer:
a) 0.1353
b) 0.3679
Step-by-step explanation:
Let's start by defining the random variable T.
T : ''The time (in hours) required to repair a machine''
T ~ exp (λ)
T ~ exp (1)
The probability density function for the exponential distribution is
(In the equation I replaced λ = L)

With L > 0 and x ≥ 0
In this exercise λ = 1 ⇒

For a)





For b)

The event (T ≥ 10 / T > 9) is equivalent to the event T ≥ 1 so they have the same probability of occur


