Answer: Equilibrium price would be $13.33 and equilibrium quantity would be 133.3 units.
Step-by-step explanation:
Since we have given that
Demand function is stated as
Supply function is stated as
We need to find the equilibrium price and quantity for this device.
For equilibrium, D(p) = S(p).
so, it becomes,
and when we put the value of p in any function:
Hence, Equilibrium price would be $13.33 and equilibrium quantity would be 133.3 units.
Answer:
The 99% confidence interval for the mean peak power after training is [299.4, 330.6]
Step-by-step explanation:
We have to construct a 99% confidence interval for the mean.
A sample of n=7 males is taken. We know the sample mean = 315 watts and the sample standard deviation = 16 watts.
For a 99% confidence interval, the value of z is z=2.58.
We can calculate the confidence interval as:
The 99% confidence interval for the mean peak power after training is [299.4, 330.6]