or 5 lengths of 234 feet to be cut from a board, the board must have a length of at least 1170 feet.
Let x represent the total length of the board so as to allow for the cutting of 5 lengths.
Since each length needed to be cut is 234 feet, hence:
x = number of lengths × feet per board
x = 5 lengths × 234 feet
x = 1170 feet
Hence for 5 lengths of 234 feet to be cut from a board, the board must have a length of at least 1170 feet.
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Answer:
Tax revenue is the dollar amount of tax collected. For an excise (or, per unit) tax, this is quantity sold multiplied by the value of the per unit tax. Tax revenue is counted as part of total surplus. Because the tax alters the quantity that is sold in the market, it will result in a deadweight loss.The effect of the tax on the supply-demand equilibrium is to shift the quantity toward a point where the before-tax demand minus the before-tax supply is the amount of the tax. A tax increases the price a buyer pays by less than the tax. A tax causes consumer surplus and producer surplus (profit) to fall.
Explanation:
Answer:
I used the function 1-proportion z-interval on the calculator, where I inputted
- Successes(x) = 64
- Sample size(n) = 593
- Confidence Level(C level) = 0.99
It would result in zInterval_1Prop 64,593,0.99: stat.results, where the values are shown below as:
- Lower bound (CLower) = 0.075105
- Upper bound (CUpper) = 0.140747
- test statistic (p^) = 0.107926
- Margin of error (ME) = 0.032821
Therefore, the 99% confidence interval would be around 0.11 ± 0.03 or range from 0.08 to 0.14.
<em><u>Note: not sure if this is correct</u></em><em> O_o</em>
