Mike bought 7 new baseball cards to add to his collection. The next day his dog ate half of his collection. There are now only 4
1 answer:
You might be interested in
Answer:
The claimed proportion (population) is
The sample proportion (p-hat) is
Step-by-step explanation:
In the population, we have the parameter p that is 11%.
Then, a sample of n=160 is taken and the proportion of the sample is 0.10.
The sample proportion p-hat can differ from the population's proportion. There is a sampling distribution that gives the possible values of the sample proportion taken out of this population and its associated probabilities.
Answer:
The monopolist's net profit function would be:
Step-by-step explanation:
Recall that perfect price discrimination means that the monopolist would be able to get the maximum price that consumers are willing to pay for his products.
Therefore, if the demand curve is given by the function:
P stands for the price the consumers are willing to pay for the commodity and "y" stands for the quantity of units demanded at that price.
Then, the total income function (I) for the monopolist would be the product of the price the customers are willing to pay (that is function P) times the number of units that are sold at that price (y):
Therefore, the net profit (N) for the monopolist would be the difference between the Income and Cost functions (Income minus Cost):