Alex bought all the string needed for $125.
It costs $18 for the remaining materials to make each puppet.
So if we closely observe then we see that here $125 is the fixed cost because its not going to change with number of puppets.
And the variable cost is $18.
In this case we can model a Total cost function C(x) for for x number of puppets as below
The total cost to make 50 puppets=$1025
Answer:
Required Probability = 0.605
Step-by-step explanation:
Let Probability of people actually having predisposition, P(PD) = 0.03
Probability of people not having predisposition, P(PD') = 1 - 0.03 = 0.97
Let PR = event that result are positive
Probability that the test is positive when a person actually has the predisposition, P(PR/PD) = 0.99
Probability that the test is positive when a person actually does not have the predisposition, P(PR/PD') = 1 - 0.98 = 0.02
So, probability that a randomly selected person who tests positive for the predisposition by the test actually has the predisposition = P(PD/PR)
Using Bayes' Theorem to calculate above probability;
P(PD/PR) =
= =
= 0.605 .