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Darina [25.2K]
3 years ago
15

An amusement park has 32000 visitors per day when it charges $70 per person. For each $2 increase in price, the park loses about

800 visitors answer. How much should the park charge to maximize the daily revenue? What is the maximum daily revenue?
Mathematics
1 answer:
Bumek [7]3 years ago
6 0

Answer:

Maximum daily revenue = $2,249,600

Step-by-step explanation:

If you approach this problem with a trail and error mindset you can quickly calculate that if you take an increase of $6  per ticket or $76 per ticket, then subtract the equivalent loss of visitors which would be 800 * 3 or 2,400 then you get 29,600 visitors. By simply multiplying this number by the cost of the tickets you achive  2,249,600 daily. This could be wrong as I did not use a formula.    

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According to the U.S. Census Bureau, 11% of children in the United States lived with at least one grandparent in 2009 (USA TODAY
wel

Answer:

The pvalue of the test is 0.0001 < 0.02, which means that we reject the null hypothesis and accept the alternate hypohteis that the proportion of all children in the United States who currently live with at least one grandparent is higher than 11%.

Step-by-step explanation:

Proportion of all children in the United States who currently live with at least one grandparent is higher than 11%

This means that the null hypothesis is:

H_0: p = 0.11

And the alternate hypothesis is:

H_a: p > 0.11

The test statistic is:

z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}

In which X is the sample mean, \mu is the value tested at the null hypothesis, \sigma is the standard deviation and n is the size of the sample.

0.11 is tested at the null hypothesis:

This means that \mu = 0.11, \sigma = \sqrt{0.11*0.89}

Suppose that in a recent sample of 1550 children, 214 were found to be living with at least one grandparent.

This means that:

n = 1550, X = \frac{214}{1550} = 0.1381

Value of the test statistic:

z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}

z = \frac{0.1381 - 0.11}{\frac{\sqrt{0.11*0.89}}{\sqrt{1550}}}

z = 3.54

Pvalue of the test and decision:

This is the probability of finding a sample proportion above 0.1381, which is 1 subtracted by the pvalue of Z = 3.54.

z = 3.54 has a pvalue of 0.9999

1 - 0.9999 = 0.0001

The pvalue of the test is 0.0001 < 0.02, which means that we reject the null hypothesis and accept the alternate hypohteis that the proportion of all children in the United States who currently live with at least one grandparent is higher than 11%.

8 0
3 years ago
You started this year with $458 saved and
vovangra [49]

Answer:

s = 14m + 458

Step-by-step explanation:

current amount = 458

14 per month

s = 14m + 458

6 0
1 year ago
Read 2 more answers
Find the value of x.
kotykmax [81]

ANSWER

My answer is in the photo above

3 0
3 years ago
Tickets for a concert cost $10 each if you order them online, but you must pay a service charge of $8 per order. The tickets are
jekas [21]

Answer:

The system of equation to model the situation are:

C = 10t + 8

C = 12t

Step-by-step explanation: Complete question ( Let C be the total cost and let t be the number of tickets).

Ordering tickets online cost $10 plus additional service charge of $8.

Therefore total cost,C = 10t + 8

Buying tickets at the door cost $12

Therefore, total cost,C = 12t

The system of equation to model the situation are:

C = 10t + 8

C = 12t

3 0
3 years ago
WILL GIVE BRAINLIEST!!
My name is Ann [436]

Answer:

1. x = 1 over 2 or you can simplify by writing x = 0.5

2.x = -1 over 3 or x= -0.3

3.x = -17

4.x = 9

5.x = 7

6.-4 over 9 or x = -0.4

7.x = 1 over 10 or x = 0.1

8.x = 1 over 4 or x = 0.25

9.x = -1

10.x = 13

hope this helps! :-)

6 0
3 years ago
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