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2 answers:
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Rs 100 of the average total cost is made up of variable costs.
Step-by-step explanation:
Given:
Number of output the firm produces= 7 units
Average cost of the output= Rs. 150
fixed factors of production = Rs.350
To Find:
How much of the average total cost is made up of variable costs=?
Solution:
we know that,
Average total cost= total cost/ number of output units produced
substituting the values, we get
Total cost= 1050
we know that Total fixed cost = 350
Total cost = Total fixed cost + Total variable cost
plug in the known values.
1050= 350 + Total variable cost
Total variable cost = 1050-350
Total variable cost =700
For 7th unit = 100
Answer:
a
The 90% confidence interval that estimate the true proportion of students who receive financial aid is
b
Step-by-step explanation:
Considering question a
From the question we are told that
The sample size is n = 200
The number of student that receives financial aid is
Generally the sample proportion is
=>
=>
From the question we are told the confidence level is 90% , hence the level of significance is
=>
Generally from the normal distribution table the critical value of is
Generally the margin of error is mathematically represented as
=>
=>
Generally 90% confidence interval is mathematically represented as
=>
Considering question b
From the question we are told that
The margin of error is E = 0.03
From the question we are told the confidence level is 99% , hence the level of significance is
=>
Generally from the normal distribution table the critical value of is
Generally the sample size is mathematically represented as
=>
=>