Answer: mean monthly income = $5000
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Explanation
In any normal distribution, the median and mean are the same value.
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The proof is as follows:
If mean > median was the case, then the distribution would be skewed to the right (ie positively skewed). The right tail is pulled longer than the left tail. But this would contradict the symmetrical nature of the normal distribution. So mean > median must not be the case.
If mean < median, then the distribution would be skewed to the left (negatively skewed). Visually this pulls the left tail longer than the right tail. Like in the previous paragraph, this contradicts the symmetrical nature of the normal distribution. So mean < median must not be the case.
Since mean > median cannot be true, and neither can mean < median, this must indicate mean = median.
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So in short, any symmetrical distribution always has mean = median and they are at the very center of the distribution.
Answer:
A) PED = 1.1
B) demand is elastic
C) Danny's total revenue would decrease
Explanation:
we can calculate the price elasticity of demand using the formula:
PED = % change in quantity demanded / % change in price = [(300 - 250) / 250] / [(2.25 - 2.75) / 2.75] = (50 / 250) / (-0.5 / 2.75) = 0.2 / 0.18 = 1.1
since PED = 1.1, the demand is elastic
if the PED is the same when the price decreases from $2.25 to $1.75, total revenue will :
when price = $2.25, total revenue = $2.25 x 300 = $675
when price = $1.75, total revenue = $1.75 x 373 = $652.75
*a 22.22% decrease in the price will cause a 24.44% increase (= 22.22% x 1.1) in the quantity demanded = 300 units + (300 x 24.44%) = 373.3 ≈ 373 units
Answer:
First-line managers operate their departments. They assign tasks, manage work flow, monitor the quality of work, deal with employee problems, and keep the middle managers and executive managers informed of problems and successes at ground level in the company.
Explanation:
Answer:
A. supply chain
Explanation:
The supply chain is the entire system that a manufacturer uses to deliver finished products to the intended consumers. The supply chains start from sourcing materials to the processing and distribution of finished goods to final consumers. The supply chain managers manage the supply chain process.
The supply chain system consists of the manufacturer and some independent entities such as distributors, wholesalers, warehousing service providers, transporters, and retailers.
A
When you go into credit (the red) you basically loan money which means that you have to pay a "fine" called interest. so the more you loan and depending on the type of loan, the more interest you will pay.
