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3 years ago

What is theory of demand?

Mathematics

2 answers:

Yuri [45]3 years ago

4 0

Answer:

Demand theory is an economic principle relating to the relationship between consumer demand for goods and services and their prices in the market. ... As more of a good or service is available, demand drops and so does the equilibrium price.

Anna [14]3 years ago

3 0

Demand theory describes the way that changes in the quantity of a good or service demanded by consumers affects its price in the market, The theory states that the higher the price of a product is, all else equal, the less of it will be demanded, inferring a downward sloping demand curve.

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3 years ago

Solve 9x^2 + 12x – 24 = 0 using the quadratic formula.

Nataliya [291]

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3 years ago

A well-mixed cookie dough will produce cookies with a mean of 6 chocolate chips apiece. What is the probability of getting a coo

posledela

The probability of getting a cookie with no more than 3 chips is 0.714.

<h3>What is probability?</h3>

It is defined as the ratio of the number of favorable outcomes to the total number of outcomes, in other words, the probability is the number that shows the happening of the event.

We have:

Well-mixed cookie dough will produce cookies with a mean of 6 chocolate chips apiece.

Using poison ratio:

$\rm P (X = k) = \dfrac{\lambda^k e^{-\lambda}}{k!}$

λ is the mean number of chocolate chips in a piece

$\rm P (X = 6) = \dfrac{6^k e^{-6}}{k!}$

P(X ≥ 5) = 1 - P(X < 5)

P(X ≥ 5) = 1 - P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3) + P(X = 4)

$\rm P(X \geq 5) = 1-[\dfrac{6^0 e^{-6}}{0!}+\dfrac{6^1 e^{-6}}{1!}+\dfrac{6^2 e^{-6}}{2!}+\dfrac{6^3 e^{-6}}{3!}+\dfrac{6^4 e^{-6}}{4!}]$

After solving;

P(X ≥ 5) = 0.714

Thus, the probability of getting a cookie with no more than 3 chips is 0.714.

Learn more about the probability here:

brainly.com/question/11234923

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2 years ago

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Answer:

I'm not sure exactly what you mean but, here's my answer to 7 + 1/3.

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Step-by-step explanation:

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3 years ago

A relay race covers 1 1/2 kilometers, and each runner on a team will rub 1/4 of a kilometers. How many runners are needed for a

VikaD [51]

We need to find how many 1/4 groups are in 1 1/2.
I work better with decimals, so I'll just convert them into decimals. We're dividing to see how many people we need.
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4 years ago

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What is theory of demand?​

What is theory of demand?