Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Part A:
The number of outcomes that each of them will have to choose anyone at random is calculated below.
n = 3 x 3 = 9
This is because, Al will have 3 choices and similarly, Bill will also have three choices. These outcomes are as written below.
S = (1,1), (1,2), (1,3), (2, 1), (2,2), (2, 3), (3, 1), (3, 2), and (3,3)
Part B: To make the same choice, there will only be three outcomes. These are:
S = (1, 1), (2, 2) and (3, 3)
Part C: If neither of them will vote for 2, there will only be four outcomes. This is because each of them will only have two choices. These are:
S = (1, 1), (1, 3), (3, 1), and (3,3)
Answer:
Explain: Demand is elastic when a change in price causes a relatively larger change in quantity demanded. Demand is inelastic when a change in price causes a relatively smaller change in quantity demanded. Demand is unit elastic when a change in price causes a proportional change in quantity demanded.
Answer:
Production= 45,000 units
Explanation:
Giving the following information:
Raw materials, June 1: 46,000 units
Raw materials, June 30: 51,000 units
Purchases of raw materials during June: 185,000 units
<u>First, we need to calculate the raw material used in production:</u>
<u></u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 46,000 + 185,000 - 51,000
Direct material used= 180,000
<u>Now, the production for the period:</u>
Production= 180,000/4
Production= 45,000 units
Answer: Resource levelling
Explanation:
Resource levelling is a term used in project management defined and is defined as a technique used where there is adjustment in the start and finish dates based on limitation in resources with the aim of balancing the demand for resources using the available supply.
While performing activities in project planning, the manager will try to schedule some tasks simultaneously. Resource leveling can be used to balance the workload of the main resources during the duration of of the project usually at the expense of either the time, cost or scope.
