<span>b. The second is lowest; the third is highest.
</span>
Answer:
Explanation:
A)
The regression equation is,
ln(Cell Phone Subscribers) = -820.894 + 0.411704 Year
or,
Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 Year)
For the year 2005,
Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 * 2005)
= 96.79%
B)
P-value for the significance of the slope is very low (0.000). Thus, the model is statistically significant and the prediction of the model is highly reliable.
The following statements describe the economic concept of scarcity:
1. All useful resources are limited.
2.Resources are scarce which explain why we are willing to pay for them.
3. Because of scarcity, individuals must make choices.
In economics, scarcity is the study of how people attempt to satisfy their needs and wants by making choices. The principle of scarcity states that limited goods and services are available to meet unlimited wants.
First, calculate for the number of fans that would come to the event in their own vehicle. This is calculated by multiplying the number of fans by the percentage.
N = (70,000 fans)(0.60) = 42000
The number of vehicles is calculated by dividing the answer obtained above by 2.
n = (42000) / 2 = 21000
The number of vehicles in the satellite parking is the difference of 21000 and 9000 which gives us an answer of 12000. Since each satellite parking will accommodate 1500, dividing 12000 by 1500 is 8.
ANSWER: 8 satellite parkings
