Answer:
$18.74
Explanation:
the margin of error for a 95% confidence level = Z x (σ / √n)
- Z for a 95% confidence level = 1.96
- standard deviation (σ) = $160
- sample size (n) = 280
the margin of error for a 95% confidence level = 1.96 x ($160 / √280) = 1.96 x ($160 / 16.733) = 1.96 x $9.56 = $18.74
Answer:
maximum profit ($30 in total) is obtained by selling 5 units
Explanation:
- if the market maker buys and sells one unit, his/her profit = $15 - $5 = $10
- if the market maker buys and sells two units, his/her profit = $10 + ($14 - $6) = $18
- if the market maker buys and sells three units, his/her profit = $18 + ($13 - $7) = $24
- if the market maker buys and sells four units, his/her profit = $24 + ($12 - $8) = $28
- if the market maker buys and sells five unit, his/her profit = $28 + ($11 - $9) = $30
the maximum profit per unit is obtained by selling only 1 unit, but the total maximum profit is obtained by selling 5 units.
Answer:
Number of teenagers= 100 teenager
Explanation:
Giving the following information:
The county government released $100,000 as an appropriation for a counseling program for at-risk teenagers. The variable costs for the program are $400 per teenager per year. Within the relevant range of 50 to 150 teenagers, the fixed costs for the program are $60,000.
First, we need to deduct the fixed costs that remain don't affect directly the teenagers.
Budget= 100,000 - 60,000= 40,000
Now, we can calculate the number of teenagers to attend:
Number of teenagers= 40,000/400= 100 teenagers
This is ab example of a price floor. It is price that set by the government as a minimum price that would be imposed on a product. This value should be higher than that of the equilibrium price to be effective. It is used in order to prevent the prices to be too low.
