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Answer:
The monopolist's net profit function would be:
Step-by-step explanation:
Recall that perfect price discrimination means that the monopolist would be able to get the maximum price that consumers are willing to pay for his products.
Therefore, if the demand curve is given by the function:
P stands for the price the consumers are willing to pay for the commodity and "y" stands for the quantity of units demanded at that price.
Then, the total income function (I) for the monopolist would be the product of the price the customers are willing to pay (that is function P) times the number of units that are sold at that price (y):
Therefore, the net profit (N) for the monopolist would be the difference between the Income and Cost functions (Income minus Cost):
Answer:
Step-by-step explanation:
find the attachment showing std normal curve symmetrical about y axis.
Equal probabilities on either side of the mean thus the total probability to the right of mean is 0.50
From the table we can find that
a) P(Z>2.5) = 0.5- area lying between 0 and 2.5
= 0.5-0.4938 =0.0062
b) P(1.2<z<2.2) = F(2.2)-F(1.2)
= 0.9861-0.3849
=0.6012
Answer:
(a) There are 70 different ways set up 4 computers out of 8.
(b) The probability that exactly three of the selected computers are desktops is 0.305.
(c) The probability that at least three of the selected computers are desktops is 0.401.
Step-by-step explanation:
Of the 9 new computers 4 are laptops and 5 are desktop.
Let X = a laptop is selected and Y = a desktop is selected.
The probability of selecting a laptop is =
The probability of selecting a desktop is =
Then both X and Y follows Binomial distribution.
The probability function of a binomial distribution is:
(a)
Combination is used to determine the number of ways to select <em>k</em> objects from <em>n</em> distinct objects without replacement.
It is denotes as:
In this case 4 computers are to selected of 8 to be set up. Since there cannot be replacement, i.e. we cannot set up one computer twice or thrice, use combinations to determine the number of ways to set up 4 computers of 8.
The number of ways to set up 4 computers of 8 is:
Thus, there are 70 different ways set up 4 computers out of 8.
(b)
It is provided that 4 computers are randomly selected.
Compute the probability that exactly 3 of the 4 computers selected are desktops as follows:
Thus, the probability that exactly three of the selected computers are desktops is 0.305.
(c)
Compute the probability that of the 4 computers selected at least 3 are desktops as follows:
Thus, the probability that at least three of the selected computers are desktops is 0.401.