Answer:
Cross price elasticity using midpoint method = 0.56
Step-by-step explanation:
Using the mid-point method
Cross-price Elasticity of Demand = <u>% change in Quantity demanded of UPS</u>
% change of price of FedEx
%change in Quantity demanded of UPS
using Mid-point method = <u> Q2-Q1 </u> × 100
(Q1+Q2)÷ 2
= <u>1.3-1.2 </u> × 100
(1.2+1.3)÷2
= <u>0.1 </u> × 100
1.25
= 8%
% change in price of FedEx
using midpoint method =<u> P2-P1 </u>× 100
(P1+P2)÷ 2
=<u> 75-65 </u>× 100
(65+75)÷2
=<u> 10 </u> × 100
70
= 14.28%
Cross-price Elasticity of Demand = 8% ÷ 14.28%
using midpoint method = 0.56
Answer:
1/6
Step-by-step explanation:
two events need to happen: tutti frutti needs to be shown by first spinner and second spinner needs to show dish
probability of tutti frutti = 1/3
probability of dish = 1/2
probability of both events = 1/3 * 1 /2 = 1/6
The Q30X program and the Intensity program are both effective because the average participant 1-mile run time was reduced for each program, but the Intensity program is the more effective program because it yielded a greater decrease in the average participant 1-mile run time.
