Sam has $140 to shop with… He wants to buy a pair of jeans that cost $45 and then some rings. The Rings cost $16 each. If Sam pu
1 answer:
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A. Total Revenue (R) is equal to price per dive (P) multiplied by number of customers (C). We can write .
Per price increase is $20. So four price increase is $. Hence, price per dive is 100+80=$180.
Also per price increase, 2 customers are reduced from 30. For 4 price increases, customers are reduced. Hence, total customers is
.
So Total Revenue is:
B. Each price increase is 20. So x price increase is 20x. Hence, new price per dive would be equal to the sum of 100 and 20x.
Also per price increase, customers decrease by 2. So per x price increases, the customer decrease is 2x. Hence, new number of customers is the difference of 30 and 2x.
Therefor we can write the quadratic equation for total revenue as the new price times the new number of customers.
C. We are looking for the point (x) at which the equation modeled in part (B) gives a maximum value of revenue (y). That x value is given as , where a is the coefficient of
and b is the coefficient of x. So we have,
That means, the greatest revenue is achieved after 5 price increases. Each price increase was 20, so 5 price increase would be . So the price that gives the greatest revenue is
.
ANSWERS:
A. $3960
B.
C. $200
Answer:
0.281 = 28.1% probability a given player averaged less than 190.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
A bowling leagues mean score is 197 with a standard deviation of 12.
This means that
What is the probability a given player averaged less than 190?
This is the p-value of Z when X = 190.
has a p-value of 0.281.
0.281 = 28.1% probability a given player averaged less than 190.