Sample space = {p, r, o, b, a, b, i, l, I, t, y} = 11 possible outcomes
1sr event: drawing an I ( there are 2 I); P(1st I) = 2/11
2nd event drawing also an i: This is a conditional probability, since one I has already been selected the remaining number of I is now 1, but also the sample space from previously 11 outcome has now 10 outcomes (one letter selected and not replaced)
2nd event : P(also one I) = 1/10
P(selecting one I AND another I) is 2/11 x 1/10

P(selecting one I AND another I) =2/110 = 0.018

5 0

2 years ago

Suppose a certain outlet chain selling appliances has found that for one brand of stereo system, the monthly demand is 240 when

Doss [256]

Answer: Therefore the demand function can be given as;

q = -3/2p + 1590

Step-by-step explanation:

Given that at;

$900 the monthly demand is 240. ....1

$850 the monthly demand is 315. ....2

Since, the function is a linear function. The demand function would be of the form;

q = mp + c ....5

Where q = quantity demanded

p = price m = slope and c = intercept

Substituting conditions 1 and 2 to the equation.

240 = 900m + c. ...3

315 = 850m+ c ...4

Subtracting eqn 4 from 3

-75 = 50m

m = -75/50

m = -3/2

Substituting m = -3/2 into equation 3;

We have,

240= -3/2(900) + c

c = 240 + 3/2(900)

c = 1590

Therefore the demand function can be given as; substituting m and c into equation 5, we have;

q = -3/2p + 1590

6 0

2 years ago