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1 answer:
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Answer:
a. D'(p) = -10p - 6
b. There is a decrease of 96 units of demand for each dollar increase
Step-by-step explanation:
The demand function is:
(a) The derivate of the demand function with respect to price gives us the rate of change of demand:
(b) When p = $9, the rate of change of demand is:
This means that, when p = $9, there is a decrease of 96 units of demand for each dollar increase.
Answer:
The correct option is: If 57% of the houses take more than three months to sell, there is a 2 6% chance that a random sample proportion would be as high as or higher than the one they obtained
Step-by-step explanation:
Consider the provided information.
The Null hypotheses is 57%,
P-value is given as 0.026
Here P value represents the probability.
0.026 can be written as: 2.6%
Thus the conclusion is:
If 57% of the houses take more than three months to sell, there is a 2 6% chance that a random sample proportion would be as high as or higher than the one they obtained.
Hence, the correct option is: If 57% of the houses take more than three months to sell, there is a 2 6% chance that a random sample proportion would be as high as or higher than the one they obtained