Suppose Shen is the only seller in the market for bottled water and Manuel is the only buyer. The following lists show the value Manuel places on a bottle of water and the cost Shen incurs to produce each bottle of water:Manuel's Value -------------------------- Shen's CostsValue of first bottle: $7 ------------- Cost of first bottle: $1Value of second bottle: $5 ------- Cost of second bottle: $3Value of third bottle: $3 ------------ Cost of third bottle: $5Value of fourth bottle: $1 ---------- Cost of fourth bottle: $7The following table shows their respective supply and demand schedules:Price ------------ Quantity Supplied --------- Quantity DemandedMore than $7 ----------- 4 ----------------------------- 0$5 to $7 ----------------- 3 ----------------------------- 1$3 to $5 ----------------- 2 ----------------------------- 2$1 to $3 ------------------ 1 ----------------------------- 3$1 or less ---------------- 0 ----------------------------- 4Use Shen's supply schedule and Manuel's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $4, and $6. Enter these values in the following table.Price ----------- Quantity Supplied ---------- Quantity Demanded2 ------------------------- ? ----------------------------- ?4 ------------------------- ? ----------------------------- ?6 ------------------------- ? ----------------------------- ?A price of _____ brings supply and demand into equilibrium.At the equilibrium price, consumer surplus is $___, producer surplus is $___, and total surplus is $___.If Shen produced and Manuel consumed one less bottle of water, total surplus would _____.If instead, Shen produced and Manuel consumed one additional bottle of water, total surplus would _____.

Answers

Answer 1

If Shen produced and Manuel consumed one additional bottle of water, total surplus would be $2

What is the law of Supply and Demand?

The law of supply and demand combines two fundamental economic ideas that describe how changes in the price of a resource, commodity, or product affect its supply and demand.

Supply grows as the price rises, but demand drops. In contrast, as the price falls, supply is constrained and demand is increased.

Demand and supply levels for different prices can be displayed as curves on a graph. The intersection of these curves symbolizes the process of price discovery in the marketplace, as it indicates the balance, or market-clearing price, at which demand equals supply.

According to the law of demand, demand for a good or resource will decrease as its price increases and increase as its price decreases.

How to solve?

Price ------ Quantity Supplied ----- Quantity Demanded

2 --------------------- 1 ------------------------- 3

4 --------------------- 2 ------------------------ 2

6 --------------------- 3 ------------------------ 1

4 (quantity supplied = quantity demanded = 2)

4 ($7>$4 and $5>$4, $3<$4<$5, area above price line but under curve if price line was at $4, $7-$4=$3, $5-$4=$1, $3+$1=$4); 4 ($1<$4 and $3<$4, $3<$4<$5, area below price line and under curve if price line at $4, $4-$1=$3, $4-$3=$1, $3+$1=$4); 8 ($4 from consumer surplus + $4 from producer surplus)

fall (equilibrium = 2, 2-1=1, Shen: quantity supplied = 1 -> $2, Manuel: quantity demanded = 1 -> $6, total surplus = producer surplus + consumer surplus = ($4-$1)+($7-$4)=$6, $8>$6)

rise (equilibrium = 2, 2+1=3, Manuel: quantity demanded = 3 -> $2, Shen: quantity supplied = 3 -> $6, total surplus = consumer surplus + producer surplus = ($3-$2)+($7-$6)=$2, $8>$2, $6>$2)

To learn more about supply and demand, visit:

https://brainly.com/question/14448710

#SPJ4


Related Questions

2. Find the slope (rate of change) of a line that passes through (-2, -3) and (1, 1). (1
01
02
4/3

Answers

Answer:

4/3

Step-by-step explanation:

slope = (y_2 - y_1)/(x_2 - x_1)

slope = (-3 - 1)/(-2 - 1)

slope = -4/(-3)

slope = 4/3

Convert these unlike fractions to equivalent like fractions and add them. You must use the lcd to get the answer correct. If possible, reduce the final sum. 14512.

Answers

Unlike fraction 1/7 is converted to equivalent  like fraction 2/14 and the sum of 2/14 + 3/14 = 5/14.

As given in the question,

Given fraction is equal to:

1/7=? + 3/14=?

Here there are two fractions

1/7 and 3/14

LCD( least common denominator) of 7 and 14 is equal to 14.

Now make them like fractions

1/7 is equivalent to

( 1/7) × ( 2/2) = 2/ 14

Now 2/14 and 3/14 are like fractions

Sum of like fractions is:

2/14 + 3/14

= ( 2+ 3) / 14

= 5/ 14

Therefore, the conversion of unlike fraction 1/7 to like fraction is 2/14. And sum of 2/14 + 3/14 = 5/14.

The complete question is:

Convert these unlike fractions to equivalent like fractions and add them. You must use the LCD to get the answer correct. If possible, reduce the final sum. 1/7=? + 3/14=?

Learn more about fractions here

brainly.com/question/10354322

#SPJ4

​if you were trying to store a list of single digit numbers in your short-term memory, about how many should you be able to store on average? group of answer choices ​10 ​2 ​15 ​7

Answers

If one tries to store a list of single-digit numbers in his or her short-term memory, then he will be able to store 7 numbers on average.

What is short-term memory?

Short-term memory is a concept in psychology that defines the capacity for holding a small amount of information in mind for a short interval. The concept of short-term memory is given by Atkinson-Shiffrin. The information of short-term memory can be transformed into long-term memory through rehearsal.

According to several studies, short-term memory has a space limit of 7 ± 2 chunks of information. The fact is written by a cognitive psychologist of Harvard University named George A. Miller and was published in 1956 in psychological reviews.

Hence, If one tries to store a list of single-digit numbers in his or her short-term memory, then he will be able to store 7 numbers on average.

To learn more about short-term memory click on the link below

https://brainly.com/question/12121626

#SPJ4

Which expression is equivalent to ? Assume . m=0 n=0

Answers

7m-(7n-18m) is an expression which is equivalent to (2mn)^4/6m^-3 n^-2 Assume m=0 n=0​

What is a expression in maths?

An expression in math is a sentence with a minimum of two numbers or variables and at least one math operation. This math operation can be addition, subtraction, multiplication, or division. The structure of an expression is: Expression is (Number/variable, Math Operator, Number/variable)

for example 4m +5 where 4 is the coefficient of m and 5 is the constant term in other word 4m and 5 are the term of the expression and m is the variable in the expression and addition is the operator.

m=0, n=0.

8m^7n^6/3 10m^7n^6/3 8m^16n^12/3 m^4n^6/3

-7m-(3n-(8m-4n-10m)

-7m-(3n-(8m-4n+10m))

-7m-(3n-(18m-4n))

-7m-(3n-18m+4n)

-7m-(7n-18m)

complete question is

Which expression is equivalent to (2mn)^4/6m^-3 n^-2? Assume m=0 n=0​

learn more about of expression here

https://brainly.com/question/14361792

#SPJ4

Cara throw the ame dice three time. Find the probability that Cara doe not throw a ix until her third throw

Answers

Cara has a 25/216 chance of waiting until her third throw before throwing a six.

Define the term sample space?A sample space is a set of potential results from a random experiment. The letter "S" is used to denote the sample space. Events are the subset among possible experiment results. Depending on the experiment, a sample area could contain a variety of results.

for the stated question-

Total times the dice is thrown = 3.

Total number of sample space = 6 x 6 x 6 = 216.

The probability of coming six = 1/6

The probability of not coming six = 1 - 1/6 = 5/6.

Probability of getting 6 in third throw = 5/6 x 5/6 x 1/6

Probability of getting 6 in third throw = 25/216

Thus, Cara has a 25/216 chance of waiting until her third throw before throwing a six.

To know more about the sample space, here

https://brainly.com/question/10558496

#SPJ4

sonia can paint a room in 12 hours. roman can paint the same room in 15 hours. how long does it take for both sonia and roman to paint the room it they are working together

Answers

It will take 7 hours to paint a room when Sonia and Roman works together.

Given,

Time taken by  Sonia to paint a room = 12 hours

Time taken by Roma to paint the same room = 15 hours

We have to find the time taken by both of them to paint the room if they work together.

Here,

Sonia takes 12 hours

Roman takes 15 hours

LCM of 12 and 15 = 60

12 × 5 = 60

15 × 4 = 60

Total number of works is 60

Now,

Number of works done by Sonia = 5 in an hour

Number of works done by Roman = 4 in an hour

So,

5 + 4 = 9 work can be done by them together in an hour

Then,

Time taken to complete 60 works;

60/9 = 6.66 ≈ 7 hours

That is,

In 7 hours Sonia and Roman paint a room together.

Learn more about work and time here;

https://brainly.com/question/19427560

#SPJ4

for the given scenario, determine the type of error that was made, if any. (hint: begin by determining the null and alternative hypotheses.) an ice cream truck aims to keep 30 degrees as the mean temperature inside its delivery truck. one employee claims that the mean temperature inside its delivery truck is more than 30 degrees. the employee conducts a hypothesis test and rejects the null hypothesis. assume that in reality, the mean temperature inside its delivery truck is 32 degrees. was an error made? if so, what type?

Answers

There is no error made in claiming that the mean temperature inside the truck is 32 degrees which is 2 degrees more than the required one.

Given, an ice cream truck aims to keep 30 degrees as the mean temperature inside its delivery truck.

one employee claims that the mean temperature inside its delivery truck is more than 30 degrees. the employee conducts a hypothesis test and rejects the null hypothesis.

The mean temperature inside its delivery truck is 32 degrees.

As, the temperature inside the delivery truck should be 30 degrees and should not be greater than 30 degrees then, there is no error made in claiming that the mean temperature inside the truck is 32 degrees which is 2 degrees more than the required one.

So, there is no error made in claiming that the mean temperature inside the truck is 32 degrees which is 2 degrees more than the required one.

Hence, there is no error made in claiming that the mean temperature inside the truck is 32 degrees which is 2 degrees more than the required one.

Learn more about Mean here https://brainly.com/question/14532771

#SPJ4

PLS HELP!!! QUICK PLS! I'LL MAKE BRAINLIEST
Write an equation for the graph of each quadratic and compare to each other. Be sure to discuss the similarities and differences.

Answers

Using the table the quadratic equation is y = x² - 2

from the curve the quadratic equation is y = x² + 1

How to write the equation of the quadratic graph

Quadratic equation is written of the form

y = a(x - h)² + k

from the table the vertex is

v(h, k) = v(0, -2)

substituting the values to the formula

y = a(x - 0)² - 2

y = ax² - 2

Using the point (2, 2) from the table

y = ax² - 2

2 = a * 2² - 2

2 = 4a - 2

4a = 2 + 2

4a = 4

a = 1

The equation of the curve is

y = x² - 2

from the graph the vertex is

v(h, k) = v(0, 1)

substituting the values to the formula

y = a(x - 0)² + 1

y = ax² + 1

Assuming a unit on the graph is a unit we take point (1, 2) where the curve passed

y = ax² + 1

2 = a * 1² + 1

2 = a + 1

a = 2 - 1

a = 1

The equation of the curve is

y = x² + 1

Learn more about quadratic equation here:

https://brainly.com/question/29339843

#SPJ1

assuming the population standated deviation is known, which of the following statements is true about the standard deviation of the sample mean x

Answers

Assuming the population standard deviation is known and the standard deviation of the sample mean x : option (b) is correct : the standard error of the sample mean decreases.

Central Limit theory:

In probability theory, the central limit theorem (CLT) states that the distribution of a sample variable approximates a normal distribution (i.e., a “bell curve”) as the sample size becomes larger, assuming that all samples are identical in size, and regardless of the population's actual distribution shape.

Standard deviation:

Standard deviation is a calculation of the dispersion or variation in a set of numbers. If the standard deviation is a small number, it means the data points are close to their average value. If the deviation is large, it means the numbers are spread out, further from the mean or average.

There are different ways to write out the steps of the population standard deviation calculation into an equation. A common equation is:

                          σ = ([Σ(x - u)2]/N)1/2

Where:

σ is the population standard deviation

Σ represents the sum or total from 1 to N

x is an individual value

u is the average of the population

N is the total number of the population

Sample Mean:

A sample mean is an average of a set of data . The sample mean can be used to calculate the central tendency, standard deviation and the variance of a data set. The sample mean can be applied to a variety of uses, including calculating population averages.

Learn more about Standard Deviation:

https://brainly.com/question/23907081

#SPJ4

Barbara ell iced tea for $1. 49 per bottle and water for $1. 25 per bottle. She wrote an equation to find the number of bottle he need to ell to earn $100

Answers

The equation representing the number of bottle Barbara need to sell to earn $100 is; 1.49x + 1.25y = 100.

Define the term arithmetic equation?In order to find the next item in the pattern, a specific number is added to each item in the series. The number added, also known as the common difference, must be exactly the same for every phrase in the series.

For the given question-

Price of each iced tea bottle = $1.49.Price of each water bottle = $1.25.

Let the number of iced tea bottle be 'x'.

Let the number of water bottle be 'y'.

Total price = 100

Thus, the equation for the total cost becomes-

1.49x + 1.25y = 100.

Therefore, the equation representing the number of bottle Barbara need to sell to earn $100 is; 1.49x + 1.25y = 100.

To know more about the arithmetic equation, here

https://brainly.com/question/28354530

#SPJ4

Math Question Attached

Answers

The slope of the straight line is 4/5

Slope of a Line

The slope of a line is a measure of the ratio between the rise and run of that line. The slope of a line is an integral quantity used to calculate the equation of a line

In general, to find the slope of a line, we need to have the values of any two different coordinates on the line.

The slope of a line basically the change in y-coordinate with respect to change in x-coordinate.

This is easily done with a formula given as

m = y₂ - y₁ / x₂ - x₁

Taking data points from the graph attached;

A = (5, 2)B = (0, -2)

Substituting the values into the slope equation;

m = -2 - 2 / 0 - 5

m = -4 / - 5

m = 4/5

Learn more on slope of a line here;

https://brainly.com/question/16949303

#SPJ1

based on a sample of size 41, a 95% confidence interval for the mean score of all students, μ, on an aptitude test is from 60 to 66. find the margin of error.

Answers

To find the margin of error we have to use the formula,

Margin of error =  Z * ơ / √n ,

Where

z = critical factor

ơ = population standard deviation

n = sample size

Now we have to find confidence interval

Confidence interval can be defined as a range of values so defined that there is a specified probability that the value of a parameter lies within it.

The confidence interval of a statistical data can be written as.

x+/-zr/√n

x+/-ME

Where margin of error ME = zr/√n

Given that;

Mean = ц

Standard deviation r = 25

Number of samples n = 41

Confidence interval = 95%

z(at 95% confidence) = 1.96

Xbar = 60.............(1)

Xbar + E = 66.........(2)

from equating both the equations we get

E= 6

and for finding the value of margin of error we know that its the half of the E

Margin of error = E/2

=6/2

=3

Therefore , the Margin of error is 3

To know more about the margin of error

https://brainly.com/question/16835723

#SPJ4

The longest side of a triangle is a cm. The second side is b cm shorter than the first side. The third side is half as long as the second side.
Write an expression, in its simplest form, for the perimeter of the triangle.

Answers

Answer:

2.5a - 1.5 b or

5/2a - 3/2b

Step-by-step explanation:

a + (a - b) + 0.5(a - b) =

a + a - b + 0.5a - 0.5b =

2a - b + 0.5a - 0.5b =

2a - 1.5 b + 0.5a  =

2.5a - 1.5 b

two poles are connected by a wire that is also connected to the ground. the first pole is 20 ft tall and the second pole is 10 ft tall. there is a distance of 30 ft between the two poles. where should the wire be anchored to the ground (in ft, from the shorter pole) to minimize the amount of wire needed?

Answers

The wire should be anchored to the ground to minimize the amount of wire needed 20 ft from the left pole.

What is the quadratic equation?

ax2 + bx + c = 0 is a quadratic equation, which is a second-order polynomial equation in a single variable. a 0. It has at least one solution because it is a second-order polynomial equation, which is guaranteed by the algebraic fundamental theorem. The answer could be simple or complicated.

Let x (ft) be the distance from the base of the left pole to the anchor point. Since 2 poles has a distance of 30 ft, the distance from the anchor point to the right pole is 30 - x.

The wire length from the top of the left pole to the anchor point is

[tex]L^{2} _{l} = 20^{2} + x^{2} = x^{2} + 400[/tex]

Similarly for the 2nd part of the wire

[tex]L^{2} _{t} = 10^{2} + (30 - x^{2})[/tex]

= 100 + 900 - 60x + x²

= x²+ 1000 - 60x

We want to minimize the length of the wires, or [tex]L^{2} _{l} + L^{2} _{r}[/tex]

[tex]\frac{x}{\sqrt{{x}^2 + 400} } + \frac{x - 30}{\sqrt{{x}^2 + 400}} = 0[/tex]

we can take the first derivative of this and set it to 0

x = 20

Hence, the wire should be anchored to the ground to minimize the amount of wire needed  20ft.

To learn more about the quadratic equation visit,

https://brainly.com/question/1214333

#SPJ4

a university charges students $2,300 less for tuition each year to encourage them to stay in school. the tuition for freshman year is $34,000. write a regression equation for this formula, with y

Answers

a regression equation for this formula, where x represents the number of years enrolled and y represents the tuition.

y = 34000 - 2300x

Regression is a statistical technique that connects one or more independent (explanatory) variables to a dependent variable. If there is a relationship between changes in one or more of the explanatory factors and changes in the dependent variable, it can be shown using a regression model.

The regression equation for this formula would be:

Y = 34,000 - 2,300x

where Y is the tuition cost and x is the number of years in school.

The equation states that the tuition cost for any year in school (x) is equal to the freshman year tuition cost (34,000) minus 2,300 multiplied by the number of years in school (x).For example, if x = 4 (4 years in school), then the tuition cost for that year would be 34,000 - 2,300(4) = 25,400.

learn more about regression here

https://brainly.com/question/28178214

#SPJ4

Un tren de juguete eléctrico viaja alrededor del árbol de Navidad en círculos. La vía del tren mide 6 pies de diámetro. ¿Cuál es la distancia que recorre el tren?​

Answers

Answer:

i need points

Step-by-step explanation:

The Rodriguez family ate One-third of a pan of brownies, and they plan to divide the remaining brownies into two equal parts. They will take one part to their block party and the other part to share with co-workers. How much of the whole pan of brownies will each place get?
A model has 2 shaded parts and 1 unshaded part.

Answers

Answer:

1

Step-by-step explanation:

The equation to represent this would be (1 - (1 / 3)) / 2

1 - (1 / 3) = 2 / 3

2 / 3 / 2 = 1 / 3

suppose a jar contains 15 red marbles and 14 blue marbles. if you reach in the jar and pull out 2 marbles at random, find the probability that both are red. write your answer as a reduced fraction.

Answers

If a jar contains 15 red marbles and 14 blue marbles. If you reach in the jar and pull out 2 marbles at random, the probability that both are red is: 2/812.

Probability

Total marbles:

Total marbles=15+14

Total marbles = 29

Chance that a red will be pulled=2/29

Chance that the second marble will be red =1/28

Hence,

Probability :

Probability = 2/29*1/28

Probability = 0.00246

Therefore  If a jar contains 15 red marbles and 14 blue marbles. If you reach in the jar and pull out 2 marbles at random, the probability that both are red is: 2/812

Learn more about probability here:

brainly.com/question/24756209

#SPJ4

In the diagram below of triangle EFGEFG, HH is the midpoint of \overline{EG}
EG
and II is the midpoint of \overline{FG}
FG
. If m\angle GFE=87-7x∠GFE=87−7x, and m\angle GIH=51+2x∠GIH=51+2x, what is the measure of \angle GIH∠GIH?

Answers

Applying the definition of midpoint, the measure of angle GIH in the triangle shown is: 59°.

What are the Corresponding Angles of Similar Triangles?

The corresponding angles of two similar triangles are always congruent to each other.

Given that H is the midpoint of Eg and I is the midpoint of FG, two similar triangles are created, where angles GFE and GIH are corresponding angles.

Given:

m∠GFE = 87 - 7x

m∠GIH = 51 + 2x

m∠GFE = m∠GIH [corresponding angles are congruent]

Substitute

87 - 7x = 51 + 2x

Solve for x

-2x - 7x = 51 - 87

-9x = -36

Divide both sides by -9:

-9x/-9 = -36/-9

x = 4

m∠GIH = 51 + 2x = 51 + 2(4)

m∠GIH = 59°

Learn more about similar triangles on:

https://brainly.com/question/14285697

#SPJ1

A school staff meeting had 60 teachers in attendance, 30% of whom were first-year teachers. How many first-year teachers were in the meeting?

Answers

Answer: 18
Explanation: 60 x 0.30 = 18

Bicycle Parade There was a parade of bicycles and tricycles. Jackie counted the number of wheels; there were 23 wheels. Tony counted the riders; 10 children were riding. How many bicycles were there and how many tricycles?​

Answers

23 divided by 10 = 2.3

solve 3^x-6^ =3^4

[tex]3^x^-^6=3^4[/tex]
a)-2
b)4
c)6
d)10

Answers

Step-by-step explanation:

[tex] {3}^{10 - 6} [/tex]

[tex] = {3}^{4} [/tex]

Which of the following Which of the following statements is true about the graphs of f(x)=x and g(x)=f(x+7)?statements is true about the graphs of f(x)=x and g(x)=f(x+7)?

Answers

A statement which is true about the graphs of f(x) = x and g(x) = f(x + 7) is: C. g(x) is the graph of f(x) translated 7 units to the left.

What is a translation?

In Mathematics, the translation a geometric figure or graph to the left simply means subtracting a digit from the value on the x-coordinate of the pre-image while the translation a geometric figure or graph downward simply means subtracting a digit from the value on the y-coordinate (y-axis) of the pre-image.

In Geometry, g(x + 7) or g(x) = f(x + 7) simply means shifting a graph 7 units to the left as illustrated by the graph shown in the image attached below.

In this context, we can reasonably infer and logically deduce that the parent function f(x) = x was shifted by 7 units to the left.

Read more on translation here: brainly.com/question/20720324

#SPJ1

Complete Question:

Which of the following statements is true about the graphs of f(x)=x and g(x)=f(x+7)?

A. g(x) is the graph of f(x) translated 7 units down.

B g(x) and f(x) have the same y-intercept.

C g(x) is the graph of f(x) translated 7 units to the left.

D g(x) is the graph of f(x) translated 7 units to the right.

why would a manager be interested in analyzing risk? a. to determine a distribution of outcomes. b. to determine a confidence interval on the most likely outcomes. c. to determine a range of outcomes. d. to determine a most likely outcome. g

Answers

A manager be interested in analyzing risk to determine a range of outcomes.

What are the reasons to analyze risk?

Project managers and their teams undertake risk analysis, such as calculating the likelihood of various undesirable outcomes affecting a project, to avoid or minimize their impacts. The process can help reduce exposure, time, and budget overruns and keep businesses in compliance.

Analyzing risk can help to uncover threats to the success of the projects or business operations, such as: vulnerabilities in security; potential litigations, penalties and non-compliance issues; and, mistakes in budget or scheduling.

In general, there are 4 accepted ways to respond to risks, those are: avoidance, mitigation, acceptance, and transfer.

Learn more about analyze risk at: https://brainly.com/question/29343207

#SPJ4  

a woman decides to purchase a $23,800 car and makes a down payment of $3,500. she arranges to borrow the remainder from a bank that will charge her 4.5% interest. she will make monthly payments for 4 years. a. find her monthly payment amount.

Answers

The monthly payment amount a woman has to pay for the car is $462.91.

Here we have to find the monthly payment amount.

The cost of car = $23,800

Down payment = $3,500

Rate(r) = 4.5%

time(t) = 4 years

Periodic interest(i) = 0.045/12

Formula to calculate monthly payment:

A = P i( 1 + i[tex])^{n}[/tex] / ( 1 + i[tex])^{n}[/tex] - 1

Loan amount = 23800 - 3500

                      = $ 20300

A = 20300 ( 0.045 /12 ( 1 + 0.045/12[tex])^{48}[/tex])/ (1 + 0.045/12[tex])^{48}[/tex] - 1

  = 20300× 0.004488 / 0.196814

  = 462.91

Therefore the monthly payment is $462.91.

To know more about the monthly payment refer to the link given below:

https://brainly.com/question/17143109

#SPJ4

The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between 30,000 and 60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was $17,545 . Assume that the standard deviation is $2,160. Use z-table.
a. What is the probability that a sample of taxpayers from this income group who have itemized deductions will show a sample mean within $210 of the population mean for each of the following sample sizes: 30, 50, 100 and 400? Round your answers to four decimals.
n= 30
n= 50
n= 100
n= 400
b. What is the advantage of a larger sample size when attempting to estimate the population mean? Round your answers to four decimals.
The probability that the sample mean will be within a specified distance of the population mean. In the automobile insurance example, the probability of being within +-210 of U ranges from BLANK for a sample of size 30 to BLANK for a sample of size 400 .
Expert Answer
0.4056 0.5082 0.6690 0.9482 A large sample the probabili…View the full answer

Answers

a) The probability that a sample of taxpayers from this income group who have itemized deductions will show a sample mean within $210 of the population mean is 0.9482.

b) When trying to estimate the population mean, a greater sample size offers the benefit of improving the estimation's accuracy.

a. The z-score is calculated as follows:

z = (x - μ) ÷ (σ ÷ √n)

Where the sample size is n, the sample mean is x, the population mean is y, and the population standard deviation is z.

By entering the specified values, we obtain:

n = 30: z = (x - 17,545) ÷ (2,160 ÷ √30) = (x - 17,545) ÷ 216

n = 50: z = (x - 17,545) ÷ (2,160 ÷ √50) = (x - 17,545) ÷ 174

n = 100: z = (x - 17,545) ÷ (2,160 ÷ √100) = (x - 17,545) ÷ 132

n = 400: z = (x - 17,545) ÷ (2,160 ÷ √400) = (x - 17,545) ÷ 53

To find the odds that a sampling distribution could be within $210 of both population mean and the z-score, we must first figure out the likelihood that now the z-score would be within 1.96 standard deviations of the mean. This is because the 95th percentile, or the number under which 95% of the data lies, is represented by the z-score of 1.96, which is the value in this case.

To ascertain the likelihood, we must attempt searching up the z-scores in a z-table and get the pertinent probabilities. A z-table is a table that lists the probability associated with various z-scores.

Using the z-scores we used to develop the concept, we could look up the alternatives in a z-table and find the following probability:

n = 30: 0.4056

n = 50: 0.5082

n = 100: 0.6690

n = 400: 0.9482

For each of the aforementioned sample sizes, the likelihood that a sampling of taxpayers from this income category who itemized deductions will exhibit a sample mean that is within $210 of the population mean is:

n = 30: 0.4056

n = 50: 0.5082

n = 100: 0.6690

n = 400: 0.9482

b. The likelihood that the sample means will closely match the true population mean is thereby increased.

The standard deviation averages commonly fall as the sample size rises. In other words, as the sample mean becomes less likely to depart from the actual population mean, the likelihood that the random variable will be close to the population mean increases.

For instance, in the aforementioned case, the likelihood that they would give it a shot would be within 210 of a population mean would rise from 0.4056 for a random sample of just 30 to 0.9482 for a random sample of 400.

This means that the likelihood that they give it a chance will fall within the allowed range of the sample % likewise increases as the sample size increases.

Learn more about the probability at

https://brainly.com/question/23021425?referrer=searchResults

#SPJ4

Why do we take the square root of the mean squared error to calculate the root mean squared error?.

Answers

The square in RMSE is utilized because it consistently provides a positive number for error, preventing errors from canceling one another out, and grants higher weight to values further from the target function, emphasizing locations for which the estimator is unreliable. To reverse the results of squaring, use the square root. 

What is RMSE?

The difference between values (sample or population values) predicted by a model or estimator and the values observed is typically measured using the root-mean-square deviation (RMSD) or root-mean-square error (RMSE).

The RMSD is the quadratic mean of the square root of the second sample moment of the discrepancies between expected values and observed values.

When computations are made outside of the data sample that was used for estimation, the deviations are referred to as errors (or prediction errors) instead of residuals.

The RMSD is used to combine the sizes of predictions' mistakes for different data points into a single indicator of predictive power. .

RMSD is a metric for accuracy that is used to compare the predicting mistakes of various models.

Hence, The square in RMSE is utilized because it consistently provides a positive number for error, preventing errors from canceling one another out, and grants higher weight to values further from the target function, emphasizing locations for which the estimator is unreliable. To reverse the results of squaring, use the square root. 

Learn more about RMSE click here:

https://brainly.com/question/28331472

#SPJ4


Exponential Growth
Graph: y = 2*
20
-1
O
X
1
2
y
Growth
b>1

Answers

Answer:

it's 20 if u look closely

Pam, a frequent business traveler, is considering signing up for a hotel rewards program. Hotel Elegance is currently offering 748 points for signing up, plus 86 points for every night Pam books at the hotel. Alternatively, Hotel Paradiso is offering a sign-up bonus of 734 points, plus 87 points per night. If Pam books a certain number of nights, the points she earns with either hotel will be the same. How many nights will that be? How many points will she have?

Answers

Answer:

Step-by-step explanation: x is the number of days she is booked.

List an equation

748+86x=734+87x

x=14

14 nights and plugging x into the equation 1952 points

Find the magnitude of the vector v = <-2, 5>.

Answers

Refer to the photo taken.
Other Questions
You plan to construct a brick wall measuring 14. 5 ft. In length, 5. 5 ft. High, and 0. 5 ft. In width. If a brick measures 6 in. X 4 in. X 2 in. , how many bricks will you need? (remember to round up. ) total volume (to the nearest tenth) = cubic feet. The number of bricks =. Identify the slope of the function. Interpret its meaning in terms of the problem situation. spencer is graduating with his bachelor's degree in psychology. he is very interested in criminal justice and forensic psychology but does not want to pursue graduate studies. which career would be possible for him to pursue with his bachelor's degree in psychology? a nurse is making a home visit to a new mother with a 5-day-old newborn. the mother tells the nurse that the baby is fussy and she does not know how to calm her. which suggestions would be most appropriate for the nurse to make? select all that apply. find a set of scalar parametric equations for the line that passes through p(3, 4, 1) and q(4, -2, -1). Janelle (age 11) lives with her grandparents, two younger cousins, and a two-year-old foster child in an urban public housing development. She has lived with her grandparents since she was removed from her biological mothers care at age seven. She refers to her grandmother as "mama," her grandfather as "papa," and the other children in her home as "sisters." When asked who she considers part of her family, Janelle identified an exceptionally long list including everyone in her household, relatives, friends, church members, and neighbors.Over the course of the interview, Janelle offered several images depicting her relationship with her grandmother: "We are best friends because we love to do everything together, especially shopping My mama knows all the stuff that kids want like pizza and ice cream We always like to go places together because we laugh at all the same things I always feel loved in my mamas family I cant imagine being anywhere else." While Janelle occasionally spends time with her biological mother (and very rarely with her biological father), Janelle wants and expects that she will live with her grandparents until she is grown.Janelle lives in a neighborhood with an unusually high crime rate; she reported that she has witnessed a number of drug deals and a couple of violent events near her home. She said, "There is bad stuff happening, but my mama makes sure nothing bad is going on out there when I go outside to play." Nonetheless, she has experienced some mild nightmares about these events and is occasionally anxious about going outside. Janelle has positive expectations for her future. She said that she wants to be a doctor.What is your evaluation on this case study from a counselor point of view ?What is your recommendation from a counselor point of view ? [tex]27x^{3} - 125[/tex]I've been having trouble with this question. It's sum or differences of cubes. if you can, please send a picture or explain the steps. PLEASE HELP, WILL GIVE BRAINLIEST! Help and explain, please! Thank you! if households saved each additional dollar of income they received, the slope of the consumption function would equal group of answer choices one. a positive number less than one. zero. a positive number greater than one. a basketball player claims to make 47% of her shots from the field. we want to simulate the player taking sets of 10 shots, assuming that her claim is true. to simulate the number of makes in 10 shot attempts, you would perform the simulation as follows: question 8 a gym wants to start offering exercise classes. a data analyst plans to survey 10 people to determine which classes would be most popular. to ensure the data collected is fair, what steps should they take? select all that apply. 1 point Which of the following is not an example of front stage racist behaviors?A.) Acting overly nice in front of people of colorB.) Crossing the street to avoid contact with people of colorC.) Mimicking the speech patterns and actions of people of colorD.) Telling racist jokes in front of people of color One of the keys to success for Mendel was using pea plants. Explain how using pea plants allowed Mendel to control mating? Some nations require their students to pass an exam before earning their primary school degrees or diplomas. A certain nation gives students an exam whose scores are normally distributed with a mean of 414141 points and a standard deviation of 999 points. Suppose we select 222 of these testers at random, and define the random variable ddd as the difference between their scores. We can assume that their scores are independent. Find the probability that their scores differ by more than 151515 points. what is the x-coordinate of the point that divides the directed line segment from k to j into a ratio 1:3 -1 3 7 11 when it comes to obtaining information about employees, an ethical approach is a. informed consent. b. economic efficiency. what is the value of 8.4n-3.2p when n=2 and p=4 which nursing assessment is important in determining the causative factors in a client with a history of spontaneous abortions? angiosperms consist of the clades a) cotyledons and roots. b) gymnosperms and angiosperms. c) cycads and mosses. d) monocots and eudicots. Individuals who are responsible or shy are sometimes said to be experts in these particular traits. A cognitive personality psychologist in this tradition would describe these so-called experts as individuals who ________.are schematic for these attributeshave episodic memories consistent with these traitshave possible selves aligned with these traitshave self-discrepancies related to these traits