Answer:
The answer is 0.8788
Step-by-step explanation:
<em>From question given, let us recall the following:</em>
<em>We know that Ƶα /2 * √p (1-p)/n</em>
<em>when we use n≤ 5000/10 =500</em>
<em> P = 0.75</em>
<em>The Margin of error = 0.03</em>
<em>Putting this values together we arrive at </em>
<em> Ƶα/2 = 0.03/√0.75 * 0.25/500 </em>
<em>= 1.549</em>
<em>Now,</em>
<em>Ф (1.549) = 0.9394</em>
<em>Therefore the confidence level becomes:</em>
<em> 1- (1-∝)/2 = 0.9394</em>
<em>∝ = 0.8788</em>
<em>The answer is 0.8788</em>
<em />
Answer:
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The price p based on the equation given is p = 3000 - 0.1x.
<h3>How to express the price?</h3>
The equation given in the question is x = 3000 - 10p. The price(p) will be:
x = 3000 - 10p.
Make p the subject of the formula
x + 10p = 3000
10p = 3000 - x
p = (3000 - x)/10
p = 3000 - 0.1x
The revenue will be price multiplied by quantity. This will be:
= (3000 - 0.1x) × x
= 3000x - 0.1x²
The marginal revenue will be calculated after differentiating. This will be:
= 3000x - 0.1x²
= 3000 - 0.2x
The demand which is the quantity based on the information will be:
3000 - 0.2x = 0
0.2x = 3000
x = 1500
Learn more about demand on:
brainly.com/question/1245771
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Answer:
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Step-by-step explanation:
