As per the given function, the utility change with respect to the level of cases handled and resolved x when 20 cases are handled is $160.
The income is expected to be obtained when x approaches 10 and 20 cases attended and resolved is $240.
In this case, the function is i(x) = 200x - x² - 160, where x is the number of cases attended and resolved. Additionally, the firm has fixed monthly costs of $200 and unit costs of $100 per case attended and resolved. With this information, we can determine how the utility changes with respect to the level of cases handled and resolved, as well as the expected income when approaching 10 and 20 cases.
To determine the rate of change of utility with respect to the number of cases handled, we need to take the derivative of the income function with respect to x. The derivative of i(x) is di/dx = 200 - 2x. Therefore, at x = 20, the rate of change of utility is di/dx = 200 - 2(20) = 160. This means that for each additional case attended and resolved beyond 20, the utility will decrease by $160.
Next, we can use the income function to determine the expected income when approaching 10 and 20 cases attended and resolved. When x approaches 10, we can substitute x = 10 into the income function to get i(10) = 200(10) - (10)² - 160 = $140. Similarly, when x approaches 20, we can substitute x = 20 into the income function to get i(20) = 200(20) - (20)² - 160 = $240.
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Complete Question:
In a law firm, the fixed monthly cost is 200 dollars, the unit costs demanded by each case attended and resolved is 100 dollars and the monthly income is modeled by the following function i(x)= 200x -x² - 160 in dollars, where x is the number of cases attended and resolved.
Answer: at what rate does the utility change with respect to the level of cases handled and resolved x when 20 cases are handled? What income is expected to be obtained when x approaches 10 and 20 cases attended and resolved?
how to know if a function has a vertical asymptote
To determine if a function has a vertical asymptote, you need to consider its behavior as the input approaches certain values.
A vertical asymptote occurs when the function approaches positive or negative infinity as the input approaches a specific value. Here's how you can determine if a function has a vertical asymptote:
Check for restrictions in the domain: Look for values of the input variable where the function is undefined or has a division by zero. These can indicate potential vertical asymptotes.
Evaluate the limit as the input approaches the suspected values: Calculate the limit of the function as the input approaches the suspected values from both sides (approaching from the left and right). If the limit approaches positive or negative infinity, a vertical asymptote exists at that value.
For example, if a rational function has a denominator that becomes zero at a certain value, such as x = 2, evaluate the limits of the function as x approaches 2 from the left and right. If the limits are positive or negative infinity, then there is a vertical asymptote at x = 2.
In summary, to determine if a function has a vertical asymptote, check for restrictions in the domain and evaluate the limits as the input approaches suspected values. If the limits approach positive or negative infinity, there is a vertical asymptote at that value.
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Write the equation of the line through the points (4,5) and (0,3)
Answer:
y = 2x + 3
Step-by-step explanation:
y = ?x + 3
(0,2)
+4 +2
(4,5)
mx = 4/2 = 2
y = 2x + 3
hope this helps :)
Step-by-step explanation:
m=3-5/0-4 = 1/2
5=1/2(4)+c
c=3
y=mx+c
y=1/2x+3
Simplify the following expression.
3x^4 +2x³-5x² + 4x² +6x-2x-3x +7x -3x³
OA. 7x5 +6x-x³ - x² + 4x
OB. 7x5-x3x² + 4x
OC. 10x¹+x³+x² + 4x
OD. 7x^5-6x +5x³ - x² + 4x
The expression that matches the simplified form is 7x^5 - 6x + 5x^3 - x^2 + 4x. Option D.
To simplify the given expression, we can combine like terms by adding or subtracting coefficients of the same degree.
The given expression is:
3x^4 + 2x^3 - 5x^2 + 4x^2 + 6x - 2x - 3x + 7x - 3x^3
Combining like terms, we get:
(3x^4) + (2x^3 - 3x^3) + (-5x^2 + 4x^2) + (6x - 2x - 3x + 7x) - 3x
Simplifying further, we have:
3x^4 - x^3 - x^2 + 12x - 3x
Now, let's arrange the terms in descending order of their exponents:
3x^4 - x^3 - x^2 + 9x
Therefore, the simplified form of the given expression is:
3x^4 - x^3 - x^2 + 9x Option D is correct.
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What is the solution to 3x + 30+ I= 10 + 2 + 5x + 2? O 6 018 9/2
Answer:
x=8.5
Step-by-step explanation:
3x+31=14+5x
17=2x
x=8.5
If (xn) is a convergent sequence and (yn) is such that for any ϵ>0,∃M such that |xn−yn|<ϵ,∀n≥M. Is (yn) convergent?
According to the given information, (yn) is convergent.
What is the convergence and divergence of the sequence?
Convergence: A sequence approaches a fixed number as the number of terms increases.
Divergence: A sequence does not approach a fixed number as the number of terms increases.
Yes, (yn) is convergent.
Since (xn) is a convergent sequence, it has a limit L, which means that for any ε > 0, there exists an N such that |xn - L| < ε for all n ≥ N.
Now, let ε > 0 be given. Then, there exists an M such that |xn - yn| < ε for all n ≥ M.
Combining these two inequalities, we have:
|yn - L| = |yn - xn + xn - L|
≤ |yn - xn| + |xn - L|
< ε + ε (for all n ≥ M)
Therefore, we have shown that for any ε > 0, there exists an M such that |yn - L| < 2ε for all n ≥ M.
Since 2ε can be made arbitrarily small by choosing ε small enough, this implies that (yn) converges to L, the limit of (xn).
Hence, (yn) is also convergent.
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When a data set has an outlier, which measure of central tendency would be the best measure of the middle to use?
If a data set has an outlier, the median would be the best measure of central tendency to use as it is less sensitive to extreme values compared to the mean.
The presence of an outlier can heavily skew the mean in the direction of the outlier, causing it to become an inaccurate representation of the center of the data. On the other side, the median is less sensitive to extreme values and represents the middle value of the dataset. It is calculated by finding the middle value in a dataset after arranging it in numerical order.
Therefore using the median as the measure of central tendency in a dataset with an outlier can provide a better indication of the typical value compared to the mean.
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Write an inequality for the statement:
-2/7 is at most the product of a number and -4/5.
The inequality for the statement:-2/7 is at most the product of a number and -4/5. is --4x/5 ≤ -2/7
How to write the inequality for the given statementInformation from the question
the statement: -2/7 is at most the product of a number and -4/5
Inequality is a means of representing the relationship existing between the positive and negative parts of equations, using other terms aside exactly using equal to
at most means the highest value hence the answer is either the number or less.
let the number be x
x * -4/5 ≤ -2/7
--4x/5 ≤ -2/7
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Gloria buys last year's best-selling novel, in hardcover, for $18.70 . This is with a 15% discount from the original price. What was the original price of the novel?
The original price of the novel is $21.5
How to calculate the original price of the novel ?The first step is to write out the parameters given in the question
Last year, Gloria buys a novel for $18.70
This price is with a discount of 15% form the original price
The original price of the novel can be calculated as follows
15/100 × 18.70
= 0.15 × 18.70
= 2.805
The next step is to add 2.805 to the price of the novel last year($18.70)
= 18.70 + 2.805
= 21.5
Hence the original price of the novel before the addition of the discount is $21.5
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Need help with number 2?
The system of equations that can be used to determine the amount each player earned, in million of dollars is the option;
(4) m + f = 3.95
f + 0.005 = m
What is a system of equations?A system of equation consists of two or more equations that have the same variables.
The details in the question indicates;
The earnings of football player McGee's in 2010, m = 0.005 million dollars more than those of his teammate Fitzpatrick's earnings, f
The amount earned by the two players = 3.95 million dollars
Therefore, we get;
m + f = 3.95
f + 0.005 = m
The correct option is therefore, option 4
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PLEASE HELP!!! 3x - x - 5 = 2(x+2)-9
Answer:
Infinite Solutions
Step-by-step explanation:
To solve for this problem, we want to isolate x on one side of the equation.
Apply the distributive property on the right side:
\(3x - x - 5 = 2x+4 -9\)
Combine like terms:
\(2x - 5 = 2x - 5\)
Woah, we have the exact same thing on both sides of the equation. This means that we have infinite solutions, aka any value of x will satisfy this equation.
Test it out! Any value of x, whether its 1, 5, or 10000 will satisfy the equation.
So this has infinite solutions.
Hope this helped!
Find the 12th term -7, -3, 1,
Answer:
\( \sf \: 12th \: term = 37\)
Step-by-step explanation:
Common difference (d) is,
→ d = a2 - a1
→ d = -3 - (-7)
→ d = -3 + 7
→ [ d = 4 ]
Now the 12th term will be,
→ a1 + (d × (n - 1))
→ -7 + (4 × (12 - 1))
→ -7 + (4 × 11)
→ -7 + 44
→ 37 => 12th term
Hence, the answer is 37.
the value of result in the following expression will be 0 if x has the value of 12. result = x > 100 ? 0 : 1;
The value of result in the following expression will be 0 if x has the value of 12:
result = x > 100 ? 0 : 1.
The expression given is known as a ternary operator.
It's a short form of if-else.
The ternary operator is written with three arguments separated by a question mark and a colon:
`variable = (condition) ? value_if_true : value_if_false`.
Here, `result = x > 100 ? 0 : 1;` is a ternary operator, and its meaning is the same as below if-else block.if (x > 100) { result = 0; } else { result = 1; }
As per the question, we know that if the value of `x` is `12`, then the value of `result` will be `0`.
Hence, the answer is `0`.
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expand and simplify (x+3)(2x-5)
Answer:
\(2x^2+x-5\)
Step-by-step explanation:
(x+3)(2x−5)
=(x+3)(2x+−5)
=(x)(2x)+(x)(−5)+(3)(2x)+(3)(−5)
=\(2x^2+x-5\)
will give brainly if you help
Answer:
I think it is 0
Step-by-step explanation:
Answer:
5
Step-by-step explanation:
To find the y-intercept from a table all you have to do is find when x is 0 because the y-intercept is (0,5) on a graph
Consider these three squares with known area.
3 squares. The smallest square is labeled 25, the next square is 144, and the largest square is 169.
Can a right triangle be formed using these squares?
Yes, the sum of the two smaller squares does not equal the largest square.
Correct ---- > Yes, the sum of the two smaller squares equals the largest square.
No, the sum of the two smaller squares does not equal the largest square.
No, the sum of the two smaller squares equals the largest square.
Answer:
512
Step-by-step explanation:i think so
Answer:
The second one
Step-by-step explanation:
I got it right
Flashlight problem: you shine a flashlight, making a circular spot of light on the wall with radius 5cm. As you back away from the wall, the radius increases at the rate of 7 cm/s. Find the radius at times 4s and 7s after you start backing away.
It is given that the radius increases at the rate of 7 cm per second, that is 7 cm in 1s.
It follows that after 4s since backing away, the increase in radius is:
\(7\times4=28\text{ cm}\)Add the increase to the initial length of the radius:
\(28+5=33\text{ cm}\)Hence, the radius 4s after you start backing away is 33 cm.
After 7s, the increase in radius will be:
\(7\times7=49\text{ cm}\)Add this increase to the initial length of the radius:
\(49+5=54\text{ cm}\)Hence, the radius 7s after you start backing away is 54 cm.
What is the Mean , Median , Mode , Range for
9,6,7,5,3
Answer:
the mean is 6
the median is 6
the mode there is none
the range is 6.
Answer:
There is no mode. (they all appear once)
The lowest number is 3 and the highest is 9, so the range is 6.
The mean is the average, add them all up (30) and divide by the number of data sets (5). The average is 6.
I have to go to dinner so maybe let someone else help with the median? The median is the middle, so you have to order them and find the middle. Hope it helped!
i’m pretty bad at math
Answer:
2m - 3
Step-by-step explanation:
We know that Jim ran m miles. Twice that amount is simply 2 times that, or 2 * m which simplifies to 2m. 3 miles fewer means that we have to subtract 3 from that quantity, so the answer is 2m - 3.
Answer:
2m - 3
Step-by-step explanation:
Distance ran by Jim = m
Twice as far as Jim : 2 * m = 2m
3 miles fewer than '2m' = 2m - 3
Distance ran by Kelly = 2m - 3
Frank Pianki, the manager of an organic yogurt processing plant desires a quality specification with a mean of 16.0 ounces, an upper specification limit of 16.5 ounces, and a lower specification limit of 15.5 ounces. The process has a mean of 16.0 ounces and a standard deviation of 1 ounce. The process capability index (C
pk
)= (round your response to three decimal places).
Answer:
To three decimal places, The process capability index is 0.167
Step-by-step explanation:
We have to find the process capability index,
Upper specification = 16.5 ounces,
Lowe specification = 15.5 ounces
Mean = 16.0 ounces
Standard Deviation = S = 1 ounce
process capability index = (upper specification - lower specification)/6S
process capability index = (16.5 - 15.5)/6(1)
= 1/6
Process capability index = 1/6 = 0.16666667
To 3 decimal places, we get,
Process capability index = 0.167
The height of a parallelogram is half its base . If it’s area is 200 cm 2 , find its height and base
The height of the parallelogram is 10 cm and its base is 20 cm.
Let's denote the base of the parallelogram as 'b' and its height as 'h'. According to the given information, the height is half the base.
We know that the formula to calculate the area of a parallelogram is:
Area = base * height
Given that the area is 200 cm^2, we can write the equation as:
200 = b * h
Since the height is half the base, we can substitute 'h' with 'b/2' in the equation:
200 = b * (b/2)
To solve this equation, we can multiply both sides by 2 to eliminate the fraction:
400 = b^2
Taking the square root of both sides, we find:
b = √400
b = 20 cm
So, the base of the parallelogram is 20 cm.
Since the height is half the base, we can calculate the height by dividing the base by 2:
h = 20 / 2
h = 10 cm
Therefore, the height of the parallelogram is 10 cm and its base is 20 cm.
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The ratio of boys to girls in the school choir is 4:7 if there are 16 boys how many girls are in the choir?
Answer:
Step-by-step explanation:
let the no of girls be x
ratio of boys to girls=4:7
4/7=16/x
do cross multiplication
7*16=x*4
112=4x
112/4=x
28=x
therefore there are 28 no of girls.
Your Overall grade is calculated by adding 35% of your Minor grade to 65% *of your Major grade. If your Minor grade is 84 and your Major grade is 61,what would your overall grade be (rounded to the nearest percentage)?A. 62B. 67C. 65D. 80E. 69
To determine the total grade we mutiply each one by the percentage it represents of the overall grade in decimal form and add them, that is:
\(84(0.35)+61(0.65)=69\)Therefore, the overall grade is 69
Need help don’t like math help
Answer:
50.65 grams
Step-by-step explanation:
Answer:
Step-by-step explanation:
Total amount of salt = 38.1 + 12.55 = 50.65 grams
38.10 +
12.55
50.65
The probability that a bus arrives early at a bus stop is The probability that it arrives on time is Calculate the probability that the bus arrives early or on time. Give your answer as a fraction in its simplest form.
The probability that the bus arrives early or on time is 11/14.
What is the probability that the bus arrives early or on time?We will denote probability of the bus arriving early as P(E) and the probability of the bus arriving on time as P(T).
We are given that P(E) = 3/7 and P(T) = 5/14.
The probability that the bus arrives early or on time will be found using the formula:
P(E or T) = P(E) + P(T)
P(E or T) = 3/7 + 5/14
P(E or T) = (6/14) + (5/14)
P(E or T) = 11/14.
Full:
The probability that a bus arrives early at a bus stop is (3)/(7). The probability that it arrives on time is (5)/(14). Calculate the probability that the bus arrives early or on time. Give your answer as a fraction in its simplest form.
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18% of all students in a school play baseball, 32% of all students play soccer. The probability that a student plays baseball given that the student plays soccer is 22%. Calculate the probability that a student plays either baseball or soccer.
The probability that a student plays either baseball or soccer is 0.4296 (or 42.96%).This is the long answer.
Percentage of students that play baseball = 18%Percentage of students that play soccer = 32%Probability of a student playing baseball given that the student plays soccer = 22%We need to find the probability that a student plays either baseball or soccer (or both).Let the probability of a student playing baseball be P(B)Let the probability of a student playing soccer be P(S)Using the formula of conditional probability:P(B|S) = P(B ∩ S) / P(S)Where P(B ∩ S) is the probability that a student plays both baseball and soccerP(B ∩ S) = P(B) + P(S) - P(B ∪ S) (Using the formula of probability of the union of two events)Where P(B ∪ S) is the probability that a student plays either baseball or soccer or bothP(B ∪ S) = P(B) + P(S) - P(B ∩ S)Now substituting the values in the formula:P(B|S) = P(B ∩ S) / P(S) => 0.22 = P(B) + P(S) - P(B ∪ S) / 0.32
Now we need to calculate the probability that a student plays either baseball or soccer or both. Using the formula of probability of the union of two events. P(B ∪ S) = P(B) + P(S) - P(B ∩ S)We know :P(B) = 0.18P(S) = 0.32We need to calculate P(B ∩ S) which can be calculated as follows :P(B|S) = P(B ∩ S) / P(S)0.22 = P(B ∩ S) / 0.32 => P(B ∩ S) = 0.22 x 0.32 = 0.0704Now substituting the values in the formula :P(B ∪ S) = P(B) + P(S) - P(B ∩ S)P(B ∪ S) = 0.18 + 0.32 - 0.0704 = 0.4296
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for what values of x does 5x^2+4x-4=0
Answer: See explanation
Step-by-step explanation:
x=-(2-2*the square root of 6)/5, about 0.58
or
x=-(2+2*the square root of 6)/5, about -1.38
The values of the x from equation \(5x^2+4x-4=0\) are x = 0.5798 and -1.38.
Given that:
Equation: \(5x^2+4x-4=0\)
To find the values of x that satisfy the equation \(5x^2+4x-4=0\), use the quadratic formula:
\(x = \dfrac{ -b \± \sqrt{b^2 - 4ac}}{ 2a}\)
Compare the equation with \(ax^2 + bx + c = 0\).
Here, a = 5, b = 4, and c = -4.
Plugging in the values to get,
\(x = \dfrac{-4 \± \sqrt{4^2 - 4 \times 5 \times (-4)}}{2 \times 5} \\x = \dfrac{-4 \± \sqrt{16 +80}}{10} \\x = \dfrac{-4 \± \sqrt{96}}{10}\\x = \dfrac{-4 \± {4\sqrt6}}{10}\)
So the solutions for x are calculates as:
Taking positive sign,
\(x = \dfrac{-4 + {4\sqrt6}}{10}\\x = \dfrac{-4 + {9.798}}{10}\\\)
x = 5.798/10
x = 0.5798
Taking negative sign,
\(x = \dfrac{-4 - {4\sqrt6}}{10}\\x = \dfrac{-4 - {9.798}}{10}\\\)
x = -13.798/10
x = -1.38
Hence, the exact solutions for the equation \(5x^2 + 4x - 4 = 0\) are x = 0.5798 and -1.38.
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You’ve studied and now you’re geared up for the ACT math section (whoo!). But are you ready to take on the most challenging math questions the ACT has to offer? Do you want to know exactly why these questions are so hard and how best to go about solving them? If you’ve got your heart set on that perfect score (or you’re just really curious to see what the most difficult questions will be), then this is the guide for you.
We’ve put together what we believe to be the most 21 most difficult questions the ACT has given to students in the past 10 years, with strategies and answer explanations for each. These are all real ACT math questions, so understanding and studying them is one of the best ways to improve your current ACT score and knock it out of the park on test day.
Brief Overview of the ACT Math Section
Like all topic sections on the ACT, the ACT math section is one complete section that you will take all at once. It will always be the second section on the test and you will have 60 minutes to completed 60 questions.
The ACT arranges its questions in order of ascending difficulty. As a general rule of thumb, questions 1-20 will be considered “easy,” questions 21-40 will be considered “medium-difficulty,” and questions 41-60 will be considered “difficult.”
The way the ACT classifies “easy” and “difficult” is by how long it takes the average student to solve a problem as well as the percentage of students who answer the question correctly. The faster and more accurately the average student solves a problem, the “easier” it is. The longer it takes to solve a problem and the fewer people who answer it correctly, the more “difficult” the problem.
(Note: we put the words “easy” and “difficult” in quotes for a reason—everyone has different areas of math strength and weakness, so not everyone will consider an “easy” question easy or a “difficult” question difficult. These categories are averaged across many students for a reason and not every student will fit into this exact mold.)
All that being said, with very few exceptions, the most difficult ACT math problems will be clustered in the far end of the test. Besides just their placement on the test, these questions share a few other commonalities. We'll take a look at example questions and how to solve them and at what these types of questions have in common, in just a moment.
But First: Should You Be Focusing on the Hardest Math Questions Right Now?
If you’re just getting started in your study prep, definitely stop and make some time to take a full practice test to gauge your current score level and percentile. The absolute best way to assess your current level is to simply take the ACT as if it were real, keeping strict timing and working straight through (we know—not the most thrilling way to spend four hours, but it will help tremendously in the long run). So print off one of the free ACT practice tests available online and then sit down to take it all at once.
Once you’ve got a good idea of your current level and percentile ranking, you can set milestones and goals for your ultimate ACT score. If you’re currently scoring in the 0-16 or 17-24 range, your best best is to first check out our guides on using the key math strategies of plugging in numbers and plugging in answers to help get your score up to where you want it to. Only once you've practiced and successfully improved your scores on questions 1-40 should you start in trying to tackle the most difficult math problems on the test.
If, however, you are already scoring a 25 or above and want to test your mettle for the real ACT, then definitely proceed to the rest of this guide. If you’re aiming for perfect (or close to), then you’ll need to know what the most difficult ACT math questions look like and how to solve them. And luckily, that’s exactly what we’re here for.
Answer:
afjhs
Step-by-step explanation:
A random sample of 15 hourly fees for car washers (including tips) was drawn from a normal population. The sample mean and sample standard deviation were x = $14.9 and s = $6.75. Can we infer at the 5% significance level that the mean fee for car washers (including tips) is greater than $12.5? Can we infer at the 5% significance level that the population mean is greater than $12.5, assuming that you know the population standard deviation is equal to 6.75?
The population mean is greater than $12.5, assuming that we know the population standard deviation is equal to 6.75.
To test whether we can infer at the 5% significance level that the mean fee for car washers (including tips) is greater than $12.5, we need to perform a one-sample t-test with the following hypotheses:
Null hypothesis: μ ≤ $12.5
Alternative hypothesis: μ > $12.5
We will use a t-distribution with degrees of freedom (df) equal to n-1 = 15-1 = 14.
The test statistic is given by:
t = (x - μ) / (s / sqrt(n))
where x is the sample mean, s is the sample standard deviation, and n is the sample size.
Substituting the given values, we get:
t = (14.9 - 12.5) / (6.75 / sqrt(15)) = 2.28
The critical value for a one-tailed test with α = 0.05 and df = 14 is 1.761. Since our calculated t-value (2.28) is greater than the critical value (1.761), we reject the null hypothesis and conclude that we can infer at the 5% significance level that the mean fee for car washers (including tips) is greater than $12.5.
To test whether we can infer at the 5% significance level that the population mean is greater than $12.5, assuming that we know the population standard deviation is equal to 6.75, we need to perform a z-test with the following hypotheses:
Null hypothesis: μ ≤ $12.5
Alternative hypothesis: μ > $12.5
We will use a standard normal distribution.
The test statistic is given by:
z = (x - μ) / (σ / sqrt(n))
where σ is the population standard deviation, which is given as 6.75.
Substituting the given values, we get:
z = (14.9 - 12.5) / (6.75 / sqrt(15)) = 2.28
The critical value for a one-tailed test with α = 0.05 is 1.645. Since our calculated z-value (2.28) is greater than the critical value (1.645), we reject the null hypothesis and conclude that we can infer at the 5% significance level that the population mean is greater than $12.5, assuming that we know the population standard deviation is equal to 6.75.
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Q15) I CAN COMPUTE THE MEAN, MEDIAN, AND MODE OF A SET OF DATA The data represent a number of texts received over an 8-day period: 5, 6, 8, 13, 9, 1, 8, 4 Find the mean, median, and mode. Mean = Median = Mode =
Answer:
median=10
mode=8
mean=42,63
Answer:
Mean:7
Median:8
Mode:8
Solution:Mean: The sum of all observation divided by several observation
6+8+13+9+1+8+4=4949÷7=7Median: it is the middlemost observation of data arraged in increasing or decreasing order of values
(1,4,6,8,8,9,13)\( \sf{( \cancel1,4,6,8,8,9, \cancel{13})}\)\( \sf{ \cancel4,6,8,8 ,\cancel9}\)\( \sf{( \cancel6,8 ,\cancel8)}\)(8)Mode: it is the value that accurs most frequently in a set of data
\( \sf {1,4,6 ,\red{8,8},9,13}\)Hope it helps!!
Suppose the mean income of firms in the industry for a year is 9090 million dollars with a standard deviation of 1515 million dollars. If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 103103 million dollars
It is highly unlikely that a firm in this industry will earn less than 103 million dollars.
z = (x - μ) / σ
z = (103 - 9090) / 1515 = -5.38
The probability of a firm earning less than -5.38 standard deviations from the mean is very low, approximately 0.00000003. This means that the probability of a randomly selected firm earning less than 103 million dollars is extremely low, less than 0.00000003 or 0.000003%.
Probability is a mathematical concept that measures the likelihood of an event occurring. It is a way to quantify uncertainty and express it as a numerical value between 0 and 1. A probability of 0 indicates that the event is impossible, while a probability of 1 indicates that the event is certain.
Probabilities can be calculated using various methods, including the classical, empirical, and subjective approaches. The classical approach is based on the assumption that all outcomes are equally likely, while the empirical approach is based on observed data. The subjective approach involves using personal beliefs and opinions to estimate the probability of an event.
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