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Mashcka [7]
3 years ago
5

How would I do the steps to solve this?

Mathematics
1 answer:
allsm [11]3 years ago
3 0

Answer:

The maximum revenue is 16000 dollars (at p = 40)

Step-by-step explanation:

One way to find the maximum value is derivatives. The first derivative is used to find where the slope of function will be zero.

Given function is:

R(p) = -10p^2+800p

Taking derivative wrt p

\frac{d}{dp} (R(p) = \frac{d}{dp} (-10p^2+800p)\\R'(p) = -10 \frac{d}{dp} (p^2) +800 \ frac{d}{dp}(p)\\R'(p) = -10 (2p) +800(1)\\R'(p) = -20p+800\\

Now putting R'(p) = 0

-20p+800 = 0\\-20p = -800\\\frac{-20p}{-20} = \frac{-800}{-20}\\p = 40

As p is is positive and the second derivative is -20, the function will have maximum value at p = 40

Putting p=40 in function

R(40) = -10(40)^2 +800(40)\\= -10(1600) + 32000\\=-16000+32000\\=16000

The maximum revenue is 16000 dollars (at p = 40)

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A probability experiment is conducted in which the sample space of the experiment is upper s equals startset 4 comma 5 comma 6 c
olchik [2.2K]
The correct question statement is:

A probability experiment is conducted in which the sample space of the experiment is S = {4,5,6,7,8,9,10,11,12,13,14,15}. Let event E={7,8,9,10,11,12,13,14,15}. Assume each outcome is equally likely. List the outcomes in E^{c}. Find P(E^{c}).

Solution:

Part 1:

E^{c} means compliment of the set E. A compliment of a set can be obtained by finding the difference of the set from the universal set. The universal set is the set which contains all the possible outcomes of the events which is S in this case.

So, compliment of E will be equal to S - E. S - E will result in all those elements of S which are not present in E. So, we can write:

E^{c}=S-E \\  \\ 
E^{c}=(4,5,6,7,8,9,10,11,12,13,14,15)-(7,8,9,10,11,12,13,14,15) \\  \\ 
E^{c}=(4,5,6)

Thus the set compliment of E will contain the elements {4,5,6}.So

E^{c} = {4,5,6}

Part 2)

P(E^{c}) means probability that if we select any number from the Sample Space S, it will belong the set E compliment.

P(E^{c}) = (Number of Elements in E^{c})/Number of elements in S

Number of elements in set S = n(S) = 12
Number of elements in set E^{c} = n(E^{c})=3

So, 

P(E^{c})= \frac{n(E^{c}) }{n(S)} \\  \\ 
P(E^{c})= \frac{3}{12} \\  \\ 
P(E^{c})= \frac{1}{4}
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