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3 years ago

The weekly sales of Honolulu Red Oranges is given by

Mathematics

1 answer:

Volgvan3 years ago

8 0

Answer: See Explanation

Step-by-step explanation:

The price elasticity of demand will be calculated as:

q = 860 − 20p.

dq/do = -20

p = 38

Elasticity E(p) = (p/q) × dq/dp

= [38 /(860 - 20p)] × (20)

=38 × 20/(860 - 760)

= 7.6

Therefore, the price elasticity of demand when the price is $38 per orange is 7.6

Revenue = price × quantity

= p × q

= p × (860 − 20p)

= 860p - 20p²

Differentiating with respect to p

= 860 - 40p

40p = 860

p = 860/40

p = 21.50

Maximum Revenue = 860p - 20p²

= 860(21.50) - 20(21.50)²

= 18490 - 9245

= 9245

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The mailing list of an agency that markets scuba-diving trips to the Florida Keys contains 78% males and 22% females. The agency

choli [55]

Answer:

a) 0.98% probability that 17 of the 29 people are men.

b) 3.86% probability that the first woman is reached on the 8th call

Step-by-step explanation:

For each person chosen by the agency, there are only two possible outcomes. Either it is a man, or it is a woman. The probability of selecting a man or a women in each trial is independent from other trials. So we use the binomial probability distribution to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

(a) What is the probability that 17 of the 29 people are men?

This is P(X = 17) when $n = 29, p = 0.78$ . So

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 17) = C_{29,17}.(0.78)^{17}.(0.22)^{12} = 0.0098$

0.98% probability that 17 of the 29 people are men.

(b) What is the probability that the first woman is reached on the 8th call?

On the first 7 trials, all men, each with a 78% probability.

On the 8th trial, a women, with a 22% probability. So

$P = (0.78)^{7}*0.22 = 0.0386$

3.86% probability that the first woman is reached on the 8th call

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alexandr402 [8]

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3 years ago

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Ilia_Sergeevich [38]

Answer:

Step-by-step explanation:

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3 0

3 years ago

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Jane wishes to bake an apple pie for dessert. The baking instructions say that she should bake the pie in an oven at a constant

pychu [463]

Answer:

A=152

K= -Ln(0.5)/14

Step-by-step explanation:

You can obtain two equations with the given information:

T(14 minutes) = 114◦C

T(28 minutes)=152◦C

Therefore, you have to replace t=14, T=114 and t=28, T=152 in the given equation:

$114=190-Ae^{-14k} (I) \\152=190-Ae^{-28k}(II)$

Applying the following property of exponentials numbers in (II):

$e^{a}.e^{b}=e^{a+b}$

Therefore $e^{-28k}$ can be written as $e^{-14k}.e^{-14k}$

$152=190-Ae^{-14k}.e^{14k}$

Replacing (I) in the previous equation:

$152=190-76e^{-14k}$

Solving for k:

Subtracting 190 both sides, dividing by -76:

$0.5=e^{-14k}$

Applying the base e logarithm both sides:

Ln(0.5)= -14k

Dividing by -14:

k= -Ln(0.5)/14

Replacing k in (I) and solving for A:

$Ae^{-14(-Ln(0.5)/14)}=76\\Ae^{Ln(0.5)} =76\\A(0.5)=76$

Dividing by 0.5

A=152

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3 years ago

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