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user100 [1]
2 years ago
14

The administrator of a county's museum is considering increasing the price of an annual pass by 1% from $55 to $55.55. At the cu

rrent price, the museum sells 2000 annual passes and the point of elasticity is 0.62. What effect would the increase in price have on the museum's annual pass revenue?
Mathematics
1 answer:
atroni [7]2 years ago
8 0

The increase in price would  increase the annual pass revenue of the museum.

<h3>What is the effect of the increase in price on the annual pass revenue?</h3>

In order to determine the effect the increase in price would have on revenue, we have to examine the elasticity of demand of the museum pass.

The point elasticity is 0.62. This means that demand is inelastic. This means that when price increases, there would be little or no change in the quantity demanded. As a result, revenue would increase.

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

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konstantin123 [22]

First, divide.

680 / 4 = $170 per TV

Second, multiply.

170 * 7 = $1,190

Best of Luck!

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3 years ago
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Anarel [89]

Answer:

A shirt rack contains 5 striped shirts, 8 solid shirts, and 6 polka dot shirts. How many outcomes are there when choosing a shirt from the rack?

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A shirt rack contains 5 striped shirts, 8 solid shirts, and 6 polka dot shirts. How many outcomes are there when choosing a shirt from the rack?

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Step-by-step explanation:

3 0
3 years ago
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How many triangular faces does a rectangular pyramid have?
Advocard [28]
A rectangular pyramid has a rectangular base and 4 triangular faces.
5 0
3 years ago
Expand (x-2) (x-1). Must be in polynomial form.
Ludmilka [50]
To expand two terms such as these, we can use the method called FOIL (stands for First, Outer, Inner, Last). Here is what I mean:

We have two terms: (x - 2)(x - 1)

We should first multiply the First two terms of each term in order to complete the F stage:

(x)*(x) = x^{2}

So then, we take the two outer terms and multiply them together to complete the O stage:

(x)*(-1) = -x

So far we have two things that we have calculated; at the end of the FOIL process we will have four.

To keep going with the FOIL, we now multiply the two inner terms to complete the I stage:

(-2)*(x) = -2x

Last but not least, we need to complete the L stage - so we multiply the two last terms of each term:

(-2)*(-1) = 2

Now that we have our four terms, let us add them together and combine like terms:

x^{2}  + (-x) + (-2x) + 2

Since -x and -2x both have the x portion in common and they are added together, we can add them to create one single term:

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6 0
3 years ago
A math professor notices that scores from a recent exam are normally distributed with a mean of 61 and a standard deviation of 8
Alexeev081 [22]

Answer:

a) 25% of the students exam scores fall below 55.6.

b) The minimum score for an A is 84.68.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Mean of 61 and a standard deviation of 8.

This means that \mu = 61, \sigma = 8

(a) What score do 25% of the students exam scores fall below?

Below the 25th percentile, which is X when Z has a p-value of 0.25, that is, X when Z = -0.675.

Z = \frac{X - \mu}{\sigma}

-0.675 = \frac{X - 61}{8}

X - 61 = -0.675*8

X = 55.6

25% of the students exam scores fall below 55.6.

(b) Suppose the professor decides to grade on a curve. If the professor wants 0.15% of the students to get an A, what is the minimum score for an A?

This is the 100 - 0.15 = 99.85th percentile, which is X when Z has a p-value of 0.9985. So X when Z = 2.96.

Z = \frac{X - \mu}{\sigma}

2.96 = \frac{X - 61}{8}

X - 61 = 2.96*8

X = 84.68

The minimum score for an A is 84.68.

8 0
3 years ago
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