5

The table belOw relales the amount Lino consumors spend shopping Ihe Inlemel por rrolh wth Ihelt anaudi IncOmo Wnalmel consumer elther sponds 0-2 houte por monin sh...

Question

The table belOw relales the amount Lino consumors spend shopping Ihe Inlemel por rrolh wth Ihelt anaudi IncOmo Wnalmel consumer elther sponds 0-2 houte por monin shoppina or iho In ernel JnJ Incomg bolot $40,0007come_ Houla Abovel So04 640,DOO= SC0,OOO Bolor*40,060 lotdigHoureTotala4ondAant anonnmdIa UleInnl bonewtol MComa belox $40 0o epemla Tno probubillty that conanimanenurOnnnr delcimL Houndod Imo ducilnal [oces (TypuHount

The table belOw relales the amount Lino consumors spend shopping Ihe Inlemel por rrolh wth Ihelt anaudi IncOmo Wnalmel consumer elther sponds 0-2 houte por monin shoppina or iho In ernel JnJ Incomg bolot $40,0007 come_ Houla Abovel So04 640,DOO= SC0,OOO Bolor*40,060 lotdig Houre Totala 4ond Aant anonnmd Ia UleInnl b onewtol MComa belox $40 0o epemla Tno probubillty that conanimanenurOnnnr delcimL Houndod Imo ducilnal [oces (Typu Hount



Answers

The following table shows the probability that a customer at a department store will make a purchase in the indicated price range.$$\begin{array}{|l|c|} \hline \multicolumn{1}{|c|}\text { cost } & \text { Probability } \\ \hline \text { Below \$5 } & 0.25 \\ \$ 5-\$ 19.99 & 0.37 \\ \$ 20-\$ 39.99 & 0.11 \\ \$ 40-\$ 69.99 & 0.09 \\ \$ 70-\$ 99.99 & 0.07 \\ \$ 100-\$ 149.99 & 0.08 \\ \$ 150 \text { or more } & 0.03 \end{array}$$ Find the probability that a customer makes a purchase that is (a) less than $\$ 20$ (b) $\$ 40$ or more. (c) more than $\$ 99.99$ (d) less than $\$ 100$.

For this problem, we're going to reference the chart that shows the probability of a customer making it purchase in a variety of different price ranges. So for the first one, we want to know what the probability is that a customer will make a purchase that is less than $20. Well, if I look at the chart, the first two columns show all of my choices below $20. I could either be below $5 or between $5.1999. And if I add up those two probabilities 0.25 and 0.37 that gives me a probability of 0.62 that I will purchase something below $20. Our second problem we're gonna look at is what is the probability of spending $40? We're more, well again, looking at the chart. I could spend between 40 and $70. There's a 9% chance of that happening. I could spend between 70 and $100.7 percent chance of that between 101 $150. There's an 8% chance, and over $150. There is a 3% chance if I add up all those possibilities, I have a probability of 0.27 that a customer will spend $40 or more. Now. What is the probability of spending mawr than 99 99? Well, it's very similar to what we just did, except it's fewer categories because Onley two categories fit this scenario. Either spend between 101 150 for more than 150. And if I add up those two probabilities, I get 0.11 Finally, what is the probability of spending less then $100? Well, it's just a matter of finding which categories Teoh include here. I could spend below $5 between five and 20 between 20 and 40 40 to 70 and 72 1999 99. Those five together when I add them up, gives me 0.89 So there's a very good chance that a customer will spend less than $100

All right, so we have some data here on Cyber Monday spending after 2005. We're going to use Dez most dot com to create our linear regression equation and then use that to make an estimate of what we think will happen in 2011. I've already gone to decimals and put in my data. So 2005 is year zero. These are millions of dollars can add that table by clinic clicking the plus sign in the upper left corner and choosing table. Once I have that done, I can go ahead and do my linear regression equation. You can see your points over here are fairly linear, but not exactly so. We know it's not going to be perfect, but it should be close. So should make the most of your linear regression equation. I type in why one one a little too quickly, but every time sign and X one los three and you can see my correlation coefficient is very close to one. So this is a pretty good equation, which you can see just by looking at the line. It gives you a Y intercept of one of 2.0 she's be a slope of one or 2.6 in a Y intercept of 504.2. Now I can use that data to calculate 2011 which is six years after 2005. So I'm just going to put in my slope. I'm going to put in 64 x and I'm going to add my Why intercept and you can see I can expect to spend it says $1119.8 million which is the same as $1.12 billion in on Cyber Monday in 2011. So here is your answer for B.

So this question wants us to complete the table on the first question Saiz show the consumption on savings should do. Graphically. Andi, we're going to be solving that first. So from the from the giving table, the values off consumption, average propensity to consume the average princesses is safe on the marginal propensity to consume on the marginal Professor City to save are required to be calculated. Right. So the values for saving each a level of income are giving, and the formula to be applied are consumption is equal to income minus savings. So a PC is he called to consumption divided by income? Uh huh. On a P s. Is he called to saving? Divided by income. Uh, on M p. See, is the change in consumption Ah. Divided by the change in income? Yeah, And then the MP s is he called to the change in savings developed by a change in income. Okay, so now we're going to be, um yeah, completing the table. Basically. So the required values are the income, which is I. So we have the income. Um, we have the savings, which is s We have the consumption. We just see then we have the A p. C. We have a p s. We have MPC and we have MPs. So now we're going to be and we have the formula for them. So, you know, you know well, like what to do. And then we feel the table. Basically. So, for the income, we have so footsie and this is in dollars. We have to 60. We have to 80. We have 300. We have 3. 20 and it goes like that. So I'm going to be joining the table. So we have income over there. We have, um, us. Over here. We have consumption over here. You have this over here. We have this over here. I have the over here, so we're going to be feeling the table. Basically. So also on the table, we have 3/4. See, we have 3. 60. We have 3. 80 and we have 400. So we're gonna feel the table. So the S But this is minus four on his in dollars. This is for this. Is there a rather this is for this is eight. This is 12. This is 16. This is 20 24 and 28. So giving our former loud basically gonna work with Well, given that the consumption is income minus saving. So I am an s. They're basically so for the rest. So 2, 44 to 60. Yeah, um, yet is to 76 to 92. 308 3. 24. Do we foresee 3. 56 on 3. 72 Now the a p. C. As we can see over here that it is conduction of our income. So see, developed by I So it basically using the formula to find the answer is basically so a person would be 1.2 for this one for this 0.99 the real 0.97 0.96 to a 0.95 your 0.94 0.93 on zero 0.92. Now the a p s, which is savings about income. So s over. I it would be for this would be minus zero point 02 for this is zero. But this is 0.1 0.2 0.3 2.4 0.5 There were 2.6 and 0.7 Now the MPC, which is this formula changing consumption available to change your income. So since the change, the first will be nothing on the second will be changing consumption divided by changing income. Why so the changing this develop body change in that. So that's, um 26 to 60 minus 2. 44 developed by 2. 60 minus 2. 40 on that zero point AIDS. So the the next one will be basically everything. But everything else is zero point AIDS because they have the same, you know, change. So 0.8, 3.87 point 87.8, 0.8 and 0.8 So that's that's now. The last one is NPS, which is the changing savings developed body changing income. So the first I'm gonna have a have a dash because it has change on the changing. This is basically zero minus minus four. You gotta buy to 60 minutes to 40 which is 0.2. And if you do the same formula, you get 0.2 for the entire tebu. 3.2, 3.2, 0.2. So that's how you find that, And then that's it. So the next question now find a break, even level of income and explain how it is possible for households to this save at very low income income levels. So we're gonna find out now. So the break even level off income is that level of income. Is that level of income West Savings is he quotes Zo? That is the break even level of income. So where sevens is equal to zero is where you have break of them. I had this clear from the table. We just did 70 if you go back there. So if you go back to s saving zero way, in Comey's words to 60 so therefore we can say that break even level of income is at 2 60. So break even level off income is what at 60 and when income is 2 40 if you go back to the table, any comments to 40 savings is negative, right? So economics can refer to the situation as the deceiving because saving is when you have no saving. Saving is basically less than zero on. That's what income is. 2 40. So when income is equal to 2 40. Savings is negative, which is equal to these savings. So that's that now. The next question. If the proportion of total income consumed a PC decreases any proportion, save AP s increases as income rises now explain both verbally and graphically. How do NPC on MPs campus constant at various level of income, So as income rises, the A P C foes on a PS rises an MP NPC on MPs remain constant, so we can tell that from the question MPC on MPs remains Constance. So as the savings, you know, rise and the MPs on MP on the MPs remain Constand's because the MPs Scott little as the change in savings right due to the changing income which is the same child, the level of income. So because of the savings is rising. The MPs, the MPs remain constant because the changes savings. So on the graph, the MPs would basically be on a straight line. It would take a straight line on the graph 90 comes up short rises at the same time as the same rate as income rises, so this would be a reason for the constant MPC so straight Linkov on the MPC prices as a result of MPs because if savings rights conduction reads is right at the same time. So this is the reason why l'm MPC is rising on the MPC on the coffee will still be a straight line to so that's the answer.

Hello in this permanent were given ah, table in which several quantities off items produced the solve are given a stroke. The cough off producing zero items is 120. So we have thick skulls. The third row gives us the revenue. So what we do is, we add we had the roof for profit knowing that profit is the function off difference between revenue on and quantity. So the first question asks, We're range of production level appears to be profitable. Well, look where profit is greater than zero. Not here. Not here. Here. So, um no, it zero. So it's from 20. Sorry. From 20. Q equals faulty to 60. So when you is from 2060 whore written with inequalities, this is the interval in which profits are positive. Outside the this interval outside the central, we have needed profit or zero problems. There we go will be says, calculate the profit loss for each of the Brontes shown. We have done that. Here we go. An estimate. Most most most profitable production. Little ease. Ah, when q equals fourth units after news, then we have it. Hope it helps, but


Similar Solved Questions

5 answers
Camerar Draw Are 2 teachese dinages real U the white Iligator appears D igators the
camerar Draw Are 2 teachese dinages real U the white Iligator appears D igators the...
5 answers
HW 19 Greens Theorem: Problem 13PrevUpNextpt)Use Green's Theorem to evaluate the line integral of F 5 (25,31)around the boundary of the parallelogram in the following figure (note the orientation).(To 9o)(210 -VoWith 0 = 9and yo = 9(To: 0)Jc 25 dx + 3x dy
HW 19 Greens Theorem: Problem 13 Prev Up Next pt) Use Green's Theorem to evaluate the line integral of F 5 (25,31) around the boundary of the parallelogram in the following figure (note the orientation). (To 9o) (210 -Vo With 0 = 9and yo = 9 (To: 0) Jc 25 dx + 3x dy...
5 answers
Get an education: In 2012 the General Soclal Survey asked 844 aduits how many years of education they had. The sample mean was 8.54 vears wlth standard devlation of 8.58 vears.Part: 0 / 2Pant 1 0f 2Construct 9g"/ interval far the mean number Yeats of education, Round the answers t0 IKo Decima places.99" confidence interva for the mean number Of years of education
Get an education: In 2012 the General Soclal Survey asked 844 aduits how many years of education they had. The sample mean was 8.54 vears wlth standard devlation of 8.58 vears. Part: 0 / 2 Pant 1 0f 2 Construct 9g"/ interval far the mean number Yeats of education, Round the answers t0 IKo Decim...
5 answers
FORMA TION OF ELEMENTS. Complete the following nuclear reaction and identify the cosmic phase (big bang nucleosynthesis, stellar nucleosynthesis, supernova) in which the reaction occurred;COSMIC PHA SEIJN + #He +i #Ga + -%e 180 + 130 _ {H + JP + ZH + &yU + JH _ 138Np 18Cd + &n7. iK+ iH _ I +"8u 18Cd29GEs10. 3 Fe + 3 &n _
FORMA TION OF ELEMENTS. Complete the following nuclear reaction and identify the cosmic phase (big bang nucleosynthesis, stellar nucleosynthesis, supernova) in which the reaction occurred; COSMIC PHA SE IJN + #He +i #Ga + -%e 180 + 130 _ {H + JP + ZH + &y U + JH _ 138Np 18Cd + &n 7. iK+ iH _...
5 answers
Calculate the mass % HNOz in a 2.58 Molar (M) solution of HNO3laq): d = 1.084 g/mL1) 2.38 %2) 13.8 %15.0 %22.3 %5) 44.4 %
Calculate the mass % HNOz in a 2.58 Molar (M) solution of HNO3laq): d = 1.084 g/mL 1) 2.38 % 2) 13.8 % 15.0 % 22.3 % 5) 44.4 %...
5 answers
QuestionThe half-life of a drug in the bloodstream is 11 hours. What percentage of the drug remains after 13 hours?198644%0 2.27969%6
Question The half-life of a drug in the bloodstream is 11 hours. What percentage of the drug remains after 13 hours? 1986 44% 0 2.2796 9%6...
5 answers
Acc Leaslh_cakculalions Find the Acc leagHh of followi4g 4he Cunues O the_Gilmn intecwa Hy--8x-3 o0 [3U) Tus calculvs]X=4+y for TeY 42
Acc Leaslh_cakculalions Find the Acc leagHh of followi4g 4he Cunues O the_Gilmn intecwa Hy--8x-3 o0 [3U) Tus calculvs] X= 4+y for TeY 42...
5 answers
Point) Let X be a random variable with the following probability density function.f(z) = {sin(z) , 0 < I < #, otherwiseCompute the expected value of X? , then compute the variance of X (You may answer in terms of T by typing "pi" in place of w or answer correct to at least four decimal placesE(X2)Var(X)
point) Let X be a random variable with the following probability density function. f(z) = {sin(z) , 0 < I < #, otherwise Compute the expected value of X? , then compute the variance of X (You may answer in terms of T by typing "pi" in place of w or answer correct to at least four dec...
5 answers
Match the description with either mutation freque Cy Or mutation _rate Likelinood a gene is altered by new muration [Cl_o zele:) 2 Number of new mutations in a given gene per cei generation [CIko 3e2d Number of mutant genes divided by tota nuMoe of genes within population (Cicktoe2ci 4 Afected by natural selection and genetic arift [ZEToEZD to selecu mutation raie mutation frequency
Match the description with either mutation freque Cy Or mutation _rate Likelinood a gene is altered by new muration [Cl_o zele:) 2 Number of new mutations in a given gene per cei generation [CIko 3e2d Number of mutant genes divided by tota nuMoe of genes within population (Cicktoe2ci 4 Afected by na...
5 answers
In an experiment; CaCO3 is heated to to produce CaO and 02: If 15.35 kg of CaCO3 is heated; how many mL of 02 are produced at 35.0*C and 725.0 mmHg:Type your final answer below with correct units and sig figs_On your scratch paper; you must show a complete; logical, neat; and correct method of solution for each problem below. Don't forget units and sig: figs where appropriate Please circle the question number and your final answer
In an experiment; CaCO3 is heated to to produce CaO and 02: If 15.35 kg of CaCO3 is heated; how many mL of 02 are produced at 35.0*C and 725.0 mmHg: Type your final answer below with correct units and sig figs_ On your scratch paper; you must show a complete; logical, neat; and correct method of sol...
5 answers
How many different 10-letter words (real or imaginary) can be formed from the following letters? G,A B,L,Q,2,4 I,A, B ten-letter words (rea or imaginary) can be formed with the given letters (Type whole number )
How many different 10-letter words (real or imaginary) can be formed from the following letters? G,A B,L,Q,2,4 I,A, B ten-letter words (rea or imaginary) can be formed with the given letters (Type whole number )...
3 answers
Question 124 ptsLet T be a planar graph, such that every vertex of [ has degree at least 5,and at least one vertex of [ has degree 8. Prove that |VI z 15.UploadChoose a file
Question 12 4 pts Let T be a planar graph, such that every vertex of [ has degree at least 5,and at least one vertex of [ has degree 8. Prove that |VI z 15. Upload Choose a file...
5 answers
(15pts) Determine if the following st is subspace of R*. If your answer is Yes. exprOSS te set a3 SpAll of vectors, Ie FOur aSWer is [lO , explain YOU ASWeT with counter example_ Explain all Vour reasonings.S ={L4 eR" |rv +2=0
(15pts) Determine if the following st is subspace of R*. If your answer is Yes. exprOSS te set a3 SpAll of vectors, Ie FOur aSWer is [lO , explain YOU ASWeT with counter example_ Explain all Vour reasonings. S = {L4 eR" |rv +2=0...
5 answers
AlleeetInti * A2tea , Ind tha ntuchr [thve Elle ?Hmmrni
alleeet Inti * A2tea , Ind tha ntuchr [ thve Elle ? Hmmrni...
5 answers
You want to evaluate how teacher supplies have changed over the last ten years. What would be a good independent AND dependent variable to consider?
You want to evaluate how teacher supplies have changed over the last ten years. What would be a good independent AND dependent variable to consider?...
5 answers
1: One of the hayfields o Rob's farm has shape and size modeled by quadrilateral C R? with corners at (3,1), (6,2) , (3,6) and (2,4)- Assuming that a unit square in R2 has an area of one acre;* what is the area (in acres) of Rob's hayfield Q? [Hint: begin by plotting and its four corners_
1: One of the hayfields o Rob's farm has shape and size modeled by quadrilateral C R? with corners at (3,1), (6,2) , (3,6) and (2,4)- Assuming that a unit square in R2 has an area of one acre;* what is the area (in acres) of Rob's hayfield Q? [Hint: begin by plotting and its four corners_...
5 answers
Number of Valence ElectronsMolecular eeometty Jcctton contiguralion and Sketch Dame 'Xrpe the moleculeFonulaLeis SinucinSO,PH;Co504SCN"Look into the Slide #32 of the associated Powerpoint presentation: Identify each of the molecules A to D, choosing from the following list: watec methane, ammonia, hydrogen sulfide, methyl chloride (CH,CI) methanol (CH,OH)
Number of Valence Electrons Molecular eeometty Jcctton contiguralion and Sketch Dame 'Xrpe the molecule Fonula Leis Sinucin SO, PH; Co 504 SCN" Look into the Slide #32 of the associated Powerpoint presentation: Identify each of the molecules A to D, choosing from the following list: watec ...
5 answers
13 key Synthesize equations, the using the alkene specific 1 V; needed by for using 08 desired Wittig Rkection: Write down the threeYou have English (United Kingdom) the following 3 compounds and NazO materials:PhLi @ Focus
13 key Synthesize equations, the using the alkene specific 1 V; needed by for using 08 desired Wittig Rkection: Write down the three You have English (United Kingdom) the following 3 compounds and NazO materials: PhLi @ Focus...
5 answers
AeultAirutg [ETtoComletiOuetnnnecanoianonn Ith sidesCn AnOIACA Wutplallden0 019 meInelic Iuld Whalmnegotic Ilux ttzoujh Li cOdl in Urs 04 Wb?RcnrAmnta Ih ~DLL
AeultAirutg [ETto Comleti Ouetnnn ecanoianonn Ith sides Cn AnO IACA Wut plall den 0 019 meInelic Iuld Whal mnegotic Ilux ttzoujh Li cOdl in Urs 04 Wb? Rcnr Amn ta Ih ~ DLL...

-- 0.022381--