The following is an example of a Binomial Distribution. A survey is conducted of 100 people and the consumers respond, "Yes, I love your new product," or "No, I don't like your new product." True False
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- Alocal toy manufacturer is using a production line that runs 8 hours per day and produces a toy that requires a total of 7 tasks to be performed. The daily demand is 100 toysTimes of the tasks are 273, 2.01, 2.13, 2.0, 2.61, 2.71 and 2.95 minutes for A, B C, D, E , and Grespectively. However, due to the nature of the product there are precedence rules that must be observed. Such that Task A does not need any predecessors: task B requires task A to be completed. To start task Deach require task B to be completedTask must be completed prior to stating task E. Task F needs both task D and task E to be completed. Finally, task G can start only once task Fiscompleted.Given we apply the most remaining tasks rule for balancing the assembly line, with broken according to longest task time firstWhat will the estimated idle time in minutes for THIRD workstation?what is inelasticAfter a destructive hurricane in Southeast Texas, gasoline prices around the country increased dramatically. Demand did not decrease much primarily because O there is a long time period under consideration. O the cost of the product is a relatively small percentage of oncs income. O there are very few substitutes for the product. O there is a small amount of this product.
- What is a extrapolationIf a firm finds that it can sell $32,000 worth of a product when its price is $8 per unit and $35,000 worth of it when its price is $10, then Multiple Choice the demand for the product is inelastic in the $10-$8 price range. the demand for the product must have increased. elasticity of demand is 1.67. the demand for the product is elastic in the $10-$8 price range.Suppose Government of Pakistan wants to put a curb on public smoking. Studies indicate that the price elasticity of demand for cigarettes is about 0.4. If a pack of cigarettes currently costs Rs.175 and the government wants to reduce smoking by 30 percent, by how much should it increase the price? Kindly type only percentage change in the box given below. Do not use percentage sign in the box. Also, do not use any plus or minus sign in the box.
- please help me with 5. Thank youIf a firm finds that it can sell $13,000 worth of a product when its price is $5 per unit and $11,000 worth of it when its price is $6, then Multiple Choice eBook the demand for the product is elastic in the $6-$5 price range. the demand for the product must have increased. elasticity of demand is 074. the demand for the product is inelastic in the $6-$5 price range. Mc 10Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.25 each, he sells 250. At a price of $1.75 each, he sells 300. Instructions: Use the midpoint method and round your answer to two dcimal places. Do not include a negative sign (-). a. What is the elasticity of demand? 4 b. Is demand elastic or inelastic over this price range? Inelastic Elastic c. If demand had the same elasticity for a price decline from $1.75 to $1.25 as it does for the decline from $2.25 to $1.75, would cutting the price from $1.75 to $1.25 increase or decrease Danny's total revenue? OIncrease O Decrease
- Suppose the average age of Stanford Alumni increased at the same time the smaller stadium was built and the income elasticity of ticket sales is .5 Group of answer choices Tickets are an inferior good. If income increases with age, it is more likely the smaller stadium will increase total revenue because any increase in ticket revenue from the increase in prices will be reinforced by an increase in ticket sales from the higher income of Stanford Alumni. If income increases with age, it is less likely the smaller stadium will increase total revenue because any increase in ticket revenue from the increase in prices will be offset by a decrease in ticket sales from the higher income of Stanford Alumni.Is alcohol more elastic than hard seltzerP & A Ch 05 Q10 Consider public policy aimed at smoking. Studies indicate that the price elasticity of demand for cigarettes is about 0.2. If a pack of cigarettes currently costs $5 and the government wants to reduce smoking by 10%, it should increase the price by ? %. If the government permanently increases the price of cigarettes, the effect on smoking 1 year from now will be ( larger / smaller ) than the effect 3 months from now. Studies also find that teenagers have a higher price elasticity of demand than do adults. Which of the following statements are consistent with this result? Check all that apply. Adults are more likely to be addicted to cigarettes. Teenagers do not have as much income as adults, so they are more price sensitive. It is legal for adults to consume alcohol, so many choose to spend their money on that good rather than cigarettes.