If buildings are alrdy built why are they called building
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Answer: Part A. The IQR for town A is 4.5 and the IQR for town B is 4.5
Part B. No, they are assymetric.
Explanation: To find the interquatile range (IQR) of each set of data, you can do as follows:
1) Put the number in each set of data in order:
A: 3 4 5 5 6 7 8 9 9 20
B: 3 3 5 5 6 8 8 9 9
2) Find the median of each town data:
For A, the median is the number 6. Coincidently, the same can be said for town B: its median is 6.
3) Find Q1, which is the median (or the middle term) of the left side of the median:
A: 3 4 5 5 (set of numbers to calculate)
B: 3 3 5 5
Now, as both set of number are even, to find the median, we have to calculate the mean of the two central numbers:
For A: Q1 = = 4.5
For B: Q1 = = 4
4) Find Q3, which is the median of the right side of the first median:
A: 7 9 9 20 (set of numbers to calculate)
B: 8 8 9 9
As before, the median will be the mean:
For A: Q3 = = 9
For B: Q3 = = 8.5
5) The IQR is the result of a subtraction:
IQR = Q3 - Q1
For A: IQR = 4.5
For B: IQR = 4.5
For the two sets of data the IQR is the same and equals 4.5.
Part B: Box plot is a type of graphic, similar to histogram. To plot it, you need 5 points but for this question, it will be analised just the symmetric aspect. As the graphic is a retangule, to be symmetric, the median or mean has to be in the center of the retangule. In the case of the towns, the box plots are assymetric because the median of each town is closer to the Q1 of each town. In other words, the retangule is not "divided" exactly in half.
No, the price paid by the consumers for the quantity of jet planes will not increase by the same amount as the tax
(a) A correctly labelled graph for demand and supply for jet planes is attached
(b) The solution to the whole of the questions given here is mentioned in the graph attached
(c) Calculating the producer surplus:
Producer surplus = Total Revenue ( TR ) - Total cost ( TC )
Where Total Cost = Cost Average ( AC) * quantity,q
TR = $2000 * 50 = $100,000
TC = $1000 * 50 = $50,000
Product surplus = $10,000 - $50,000 = $50,000
(d) No, the price paid by the consumers for the quantity of jet planes will not increase by the same amount as the tax
(e) In the market for jet planes, the loss in consumer and producer supply will balance than the tax revenue collected by the government as tax
<h3>What is demand and supply?</h3>Demand simply refers to the quantity of consumers who are willing and able to buy particular products at various prices during a given period of time.
However, supply on the other hand, is a fundamental economic concept which describes the total amount of a specific goods or services that is available to consumers.
So therefore, in the market for jet planes, the loss in consumer and producer supply will balance than the tax revenue collected by the government as tax
Learn more about demand and supply:
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