Answer:
The reason for the columns adding up to 1 is that each individual consumes a proportion or a fraction of the total quantity produced under each product category and every product is consumed. There is no leftover.
When the proportions of all the individuals are added up, the sum is always 1 under each product category because each individual can only consume a part of the whole.
Step-by-step explanation:
a) Data and Calculations:
Food Clothes Housing Energy High Quality 100
Proof Moonshine
Farmer 0.25 0.15 0.25 0.18 0.20
Tailor 0.15 0.28 0.18 0.17 0.05
Carpenter 0.22 0.19 0.22 0.22 0.10
Coal Miner 0.20 0.15 0.20 0.28 0.15
Slacker Bob 0.18 0.23 0.15 0.15 0.50
Total 1.00 1.00 1.00 1.00 1.00
Answer:
He will save $7,248 in 2 years.
Step-by-step explanation:
The whole explanation is in the picture :)
Nikkis charges are 20,40,50,80. Dave’s charges are 25 and 37.5.
