A perfectly competitive firm is not able to sell all it wants at the market equilibrium price. Therefore, it has no incentive to increase prices (sacrificing revenues and therefore profits) to increase sales. Because other firms are selling nearly identic products (i.e., goods are homogeneous) at the market equilibrium price, trying to raise the price would lead to the firm gaining all its sales.TRUE
In economic theory, perfect competition occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices.In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.
Perfect competition is an economic term that refers to a theoretical market structure in which all suppliers are equal and overall supply and demand are in equilibrium. For example, if there are several firms producing a commodity and no individual firm has a competitive advantage, there is perfect competition.The three primary characteristics of perfect competition are (1) no company holds a substantial market share, (2) the industry output is standardized, and (3) there is freedom of entry and exit. Efficient market equilibrium under perfect competition is when marginal revenue equals marginal cost.
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complete the template below to help you plan out your letter
my product it’s a custom can of Pringle’s and I made the flavor of Pringle’s popcorn
I. Paragraph one- Introduction
1. (introduce yourself and explain your experience related to the product) _____________________________________________________________________
2. (explain why you are writing) _____________________________________________________________________
3. (briefly describe your food product and name for your food) _____________________________________________________________________
II. Paragraph two- Describe your Food Product
1. ( describe the flavors, ingredients, texture) _____________________________________________________________________
2. (what does your food look like) _____________________________________________________________________
3. (how is your food unique – what makes it different than other products out there) _____________________________________________________________________
III. Paragraph three- Describe the Packaging
1. (describe the colors in your packaging )____________________________________________________________
2. (describe any images, art, or photos on the package) _____________________________________________________________________
3. (describe the size and materials used in the package) ______________________________________________
IV. Paragraph four- Convince The Company
1. (describe the target population who will buy the food (ex. Moms, diabetics, vegetarians, teens) _____________________________________________________________________
2. (why should they make and market your food?)________________________________________
_______________________
3. (how much will you sell your food for? Sold individually or in larger quantities?) _____________________________________________________________________
V. Paragraph five- Conclusion
1. (Tell what you want the company to do) ______________________________________________
_____________________________________________________________________
2. (Restate what makes your food delicious) ____________________________________________
_______________________
3. (Restate what makes your food unique) ______________________________________________
_______________________
Answer:
Paragraph 1-
Introducing myself-
1.)
Hey, my name is... and I absoultey *love* Pringles, my favorite flavor is...because...(explain here<why you love that flavor and what you like most about it)...*add things about you and pringles to make the paragraph complete*
2.)
I have made such an outstanding flavor of Pringles, it is made of the most loved food by every human on Earth, POPCORN!
I can assure you that you will want to try my product by the time my presentation has come to an end, and boy-oh-boy do I want to as well!
3.)
Pringles are amazing. Though how would you love Popcorn Pringles? Huh, you do? Yup, I bet your pupils dilated and I got your taste buds alert!
4.)
What does my product contain? It consists of the delicious flavor of popcorn and (include your ingredients and texture of food)
5.)
What do my simple yet intricate Pringles look like? They look like *add your answer,
Any questions that have to do with describing your product would be up to you since I don't have the slightest idea of what it looks like...**
Convincing the Company-
You are looking at consumers from various categories starting from Children ranging to Elders. Vegetarians to Carnivores. I guarantee this will also include popcorn dislikers.
Why should they make the market?
Simply because they are tasty and different...all you see now is Pizza flavored Pizza, BBQ flavored brisket, Soy sauce flavored noodles. My product will be an attraction to all stores! Popcorn flavored Pringles, I mean are you kidding me, its genius, and anyone who thinks otherwise is someone who has not tried them.
How much will I sell it for?
*add your answer* Why? The reasons being, I want my product to be available to everyone.
What I want the company to do is...add your answer
The simple thought of a taste of a popcorn flavored on a Pringle makes me want to jump on a pogo stick and complete a world record!!!
The uniqueness is simple noone has made Popcorn flavored pringles and.. *add another statement on why your product is unique*
I DID MOST OF THE QUESTIONS FOR YOUR SLIDES, I HOPE THIS HELPED YOU AND MADE YOUR ASSIGNMENT EASIER FOR YOU :)
I KNOW HOW IT FEELS TO HAVE A PROJECT DUE AND POSTING IT AND FOR NONE TO HELP YOU OUT, THATS WHY I ANSWERED, THIS IS MY TROLL ACCOUNT BUT THANK ME ON MY OTHER ACCOUNT SamHdzBxby.
Your Welcome :)
Will a sole trader ownership stop a business progress?
Answer:
True
Explanation:
The given statement asserts a true claim that 'having a sole proprietor in a business mars the growth and expansion of the business' and the primary reason behind this is that his/her ability to upraise funds for further expansion is limited but the liability is unlimited. It restricts the person to enhance the business. Secondly, it is extremely difficult for a single individual to manage employees, day-to-day responsibilities, paying debts, etc. and this is why the life of most of such businesses are very short except for a few. Thus, the assertion is true.
As businesses expand to serve markets, new jobs will be created in service and manufacturing. There will also be more to fill those jobs.
As businesses expand to serve global markets, new jobs will be created in service and manufacturing. There will also be more competition to fill those jobs.
The businesses are the activities by the organization or individual to producing the goods or services with the intent to sell them for the profit. By the strategies to grow and expand your business for the profits and trade is the result.
Creates greater global competition between businesses and jobs and means some jobs have moved to different locations around the world. As businesses expand to serve markets, new jobs will be created in service and manufacturing. Then, there will also be more to fill those jobs tp get hire new employees or workers.
The above question is incomplete, the complete question is-
As businesses expand to serve ____________________ markets, new jobs will be created in service and manufacturing. There will also be more _________________ to fill those jobs.
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ordinary kriging method assume that
Calculate the inventory turnover ratioa)27.23b)13.3c)55.43d)11.67You are provided with the following information about MaxCorp.Net sales 5000Total Assets 3000Depreciation 260Net Income 600Long term Debt 2000Equity 2160
Answer:
the following information about MaxCorp.Net sales 5000Total Assets 3000Depreciation 260Net Income 600Long term Debt 2000Equity 2160
Johnson Products earned $3.05 per share last year and paid a $1.50 per share dividend. If ROE was 13 per cent, what is the sustainable growth rate?
(Round your answer to two decimal places.)
The Sustainable growth rate is 6.5% if Products earned $3.05 per share last year and paid a $1.50 per share dividend and ROE is 13%
The given data is as follows:
The Dividend earned last year = $3.05
The Dividend paid = $1.50 per share
The Return on equity, ROE = 13 percent.
The sustainable growth rate is calculated by the product of the Retention ratio and Return on equity. To calculate the sustainable growth rate, first, we need to calculate the Retention ratio.
Retention ratio = (Dividend earned last year - Dividend paid) ÷ Dividend earned last year
Retention ratio = ($3.05 - $1.50) / $3.05
Retention ratio = 1.55/$3.05 = 0.50
Sustainable growth rate = Retention ratio × Return on equity
Sustainable growth rate = 0.50 x 13%
Sustainable growth rate = 6.5%
Therefore, we can conclude that the Sustainable growth rate is 6.5%
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Question 3 The following is a summary from the cash book (bank column) Bridal Services for May 2020. May May RM RM 2020 2020 1 2,060 Payments 23,280 Balance b/d Receipts 22,660 31 Balance c/d 1,440 24
The above statement indicates that the cash book of Bridal Services was balanced on 31st May, and its closing balance was RM 1,440.
Payments made during the month of May totaled RM 23,280, and receipts for the same month were RM 22,660.
During the month of May 2020:
Payments totaled RM23,280.
Receipts totaled RM22,660.
The balance brought forward (b/d) from the previous period was RM2,060.
The closing balance (c/d) at the end of May 2020 was RM1,440.
So, the net cash balance for the month of May was negative RM 620 (i.e., payments less receipts).Therefore, this is the answer more than 100 characters.
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Which statement best explains why this passage is an
effective use of rhetoric?
Let us not overlook the fact that the small, independent
business man or woman creates more than 80 percent of
all the new jobs and employs more than half of our total
work force. Our across-the-board cut in tax rates for a 3-
year period will give them much of the incentive and
promise of stability they need to go forward with
expansion plans calling for additional employees.
Tonight, I renew my call for us to work as a team, to join
in cooperation so that we find answers which will begin
to solve all our economic problems and not just some of
them. The economic recovery package that I've outlined
to you over the past weeks is, I deeply believe, the only
answer that we have left.
--President Ronald Reagan
April 28, 1981
O Reagan employs a tone that is both academic and
commanding
O Reagan uses both facts and inspirational language
to persuade the audience.
O Reagan feels no need to support his ideas with
evidence.
O Reagan skillfully shifts the responsibility for the
budget to Congress.
Me
The answers B by the way
Answer:
His economic plan will benefit most people.
Explanation:
just took it
Answer:
The answer is B
Explanation:
Question #3
Multiple Select
The main types of markets are called
consumer
O industrial
customer
Oresidential
Question #4
Multiple Choice
The two most important types of marketplaces are consumer and business markets. There are also institutional markets, government markets, and global markets.
What other kind of markets are there?In a market where buyers and sellers may meet, there can be an exchange of commodities and services. Markets include both actual physical markets and digital ones, such those found online. There are additional examples, such as the stock market, gray market, and auction market.
Although it can be complicated, marketing is primarily driven by four variables: product, price, promotion, and place. These are the fundamental concepts around which everything else is built, and they apply regardless of how tactics and distribution methods evolve. The seven P's or another form of these core concepts are sometimes included.
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A marketing researcher subcontracts the data collection process to a field services firm. After the data is collected, the researcher is editing the questionnaires, and finds a large number of mistakes. In many cases skip patterns were not followed, and difficult questions were often skipped. The researcher contacts several of the persons that did the interviewing and finds that they received little, and in some cases, no training or supervision. What kind of error is evident here
Answer:
b. interviewer error ( bias
Explanation:
THESE ARE THE OPTIONS FOR THE QUESTION
a. processing error
b. interviewer error
c. surrogate information error
d. measurement instrument bias
e. sampling error
From the question we are informed about how a marketing researcher subcontracts the data collection process to a field services firm. After the data is collected, the researcher is editing the questionnaires, and finds a large number of mistakes. In many cases skip patterns were not followed, and difficult questions were often skipped. The researcher contacts several of the persons that did the interviewing and finds that they received little, and in some cases, no training or supervision. In this case, the kind of error that is evident here is interviewer error.
Interviewer error can be regarded as form of bias whereby the interviewer that is in charge of administering of the survey whether in person or by phone , impact some kind of choice of responses through his or her interaction. This impacting choice of response could be in form of word choices,attitude as well as facial expressions
Here's the revenue and expenses for the month. Calculate whether Mia had a profit or loss.
MAY ACCOUNTS
CHECKING
$860.00
REVENUE
FIXED EXPENSES
VARIABLE EXPENSES
CARD PURCHASE
$300
SAVINGS
$1,006.68
DOG FOOD
CAT FOOD
PET TREATS
PET SUPPLIES
$3,650
$2,850
$1,650
$1,800
RENT
$2,000
SALARIES
$2,000
UTILITIES
$1,000
PRODUCT STOCK $4,000
TOTAL
$9,950
TOTAL
$9,000
TOTAL
$300
ENTER MIA'S TOTAL PROFIT/LOSS FOR THE MONTH IN THE BOX BELOW, THEN CLICK SUBMIT.
$
SUMIT
Answer:
Loss
Explanation:
Because she started with 860.00 then ended with 300
Answer:
350
Explanation:
I guessed
Which of the following is a term for physical goods that are bought and
sold?
Find the amount of the payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. $95,000; money earns 8% compounded semiannually for 2 2
1
years The payment size is $ (Do not round until the final answer. Then round to the nearest cent.)
The payment size needed to accumulate $95,000 in 2 2 1 years with an 8% interest rate compounded semiannually is approximately $4,119.18.
To calculate the payment size needed to accumulate a specific amount in a sinking fund, we can use the formula for the future value of an ordinary annuity:
A = P * ((1 + r/n)^(n*t) - 1) / (r/n)
Where:
A is the future value
P is the payment size
r is the interest rate per period
n is the number of compounding periods per year
t is the number of years
In this case, the future value is $95,000, the interest rate is 8% (or 0.08) compounded semiannually (2 times a year), and the time period is 2 2 1 years.
Plugging the values into the formula, we have:
$95,000 = P * ((1 + 0.08/2)^(2*2.25) - 1) / (0.08/2)
Solving for P, we find that the payment size P is approximately $4,119.18.
Therefore, the payment size needed to accumulate $95,000 in 2 2 1 years with an 8% interest rate compounded semiannually is approximately $4,119.18.
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You are an oat farmer who decides to sell a
call with a strike price of $4.90 for a premium of
$0.25.
If the futures price ends up at $4.85 (and your cash price is
$4.50), find your net price.
To calculate the net price as an oat farmer who sold a call option, we need to consider the premium received and the difference between the strike price and the futures price.
In this scenario, the strike price of the call option is $4.90, and the premium received is $0.25. The futures price ended up at $4.85, which is lower than the strike price. However, the cash price at $4.50 is even lower than the futures price.Since the futures price is below the strike price, the call option is out of the money and will not be exercised by the buyer. Therefore, as the seller, you get to keep the premium received.The net price, in this case, would be the cash price ($4.50) plus the premium received ($0.25):Therefore, the net price as an oat farmer in this situation would be $4.75.
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why is 10 cents earned far more valuable than a dollar found. Critical thinking.
What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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As a general concept, ...... involves influencing others to take the actions required to achieve a goal.
a. management
b. leadership
b. leadership: Influencing others towards achieving goals.
Leadership involves influencing others to take the actions necessary to achieve a specific goal. It encompasses the ability to inspire and motivate individuals or a team toward a common objective. Leaders provide guidance, direction, and support, fostering an environment where individuals feel empowered to contribute and excel.
Effective leadership encompasses various skills, such as communication, decision-making, problem-solving, and interpersonal skills. Through their influence and example, leaders inspire and guide others toward the achievement of organizational or team goals. So the correct option is A.
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Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?A) Broad differentiationB) Supplier cost differentiationC) Focused strategyD) Broad cost leadership
Answer:
B) Supplier cost differentiation
Explanation:
As per the Porter model of generic strategies, there are three strategies which are as follows
1. Cost leadership strategy: It deals with less cost to reach broad market
2. Differentiation strategy: It deals with offering different products to reach broad market
3. Focus strategy: In terms of cost leadership and differentitaion, it focused with less cost and offered unique products at narrow market segment
Therefore the option B is not included
Which virtues of the medieval ruling classes did troubadour poetry praise? - valor and honor - material wealth - avoidance of work - devotion to an ideal
- nobility of character
Troubadour poetry of the medieval period often praised the virtues of the ruling classes, including valor and honor, devotion to an ideal, and nobility of character.
Who were Troubadours?Troubadours were poet-musicians who flourished in the courts of the European nobility during the High Middle Ages (11th to 13th centuries). They originated in the region of Occitania, which covered parts of modern-day France, Spain, and Italy, and their poetry and song were written in the Occitan language. Troubadour's poetry was characterized by themes of chivalry, courtly love, and the pursuit of spiritual and romantic ideals. The lyrics of these songs often told stories of knights and ladies and their experiences in love and war.
Troubadours were often members of the nobility themselves and their poetry reflected the ideals and values of the aristocracy. These poems often celebrated the virtues of chivalry, such as courage, bravery, and honor, as well as the importance of courtly love and the pursuit of spiritual and romantic ideals. Troubadour's poetry also emphasized the importance of generosity, hospitality, and grace in the treatment of others, and the importance of maintaining a noble and elevated character. These values and ideals helped to shape the culture and society of medieval Europe and continue to influence cultural values even today.
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What is market information?
Answer:
Market Information means an electronic document (also available in paper form upon request) located on the Trading Platform which sets out the commercial details for each Market, including but not limited to: Margin Factors, the minimum and maximum Quantity and Our Spread.
Explanation:
brainliest plz
Answer:
The results of marketing research that are used to plan for future marketing or product development activities. The information may come from a single source or through a system of collection.
Explanation:
on edge 2022
Under the deemed substantiation method of accounting for expenses, what is the maximum amount taxpayers are allowed as a deduction without being required to substantiate the amount of the expenses? a.The per diem rate established by the state in which they live. b.The appropriate Federal per diem amount. c.All expenses up to $25 per day. d.$75 per day. e.None of these choices are correct.
Answer:
b. The appropriate Federal per diem amount.
Explanation:
These special diem per rates for taxpayers would be used in substantiating the ordinary amount and important business expenses that are expense at the time when travelling to be done especially the special transportation industry meal and rates of incidental expenses, the deduction with respect to the incidental expenses, and the rates & high-cost localities list for the motive of the high-low substantiation method.
If 135 TV's are sold and cost $275 to produce and is priced at $250, what is the profit/loss?
Answer:
$25
Explanation:
The production cost is $275.
The selling price is $250
The loss/profit will be: Selling price minus cost price
=$250 - $275
= -$25
A loss of $25.
If this is the cost for all the 135 TVs, then the loss is only $25.
N:B
If the costs are for one TV, then the loss will be $25 x 135=$3,375
in john maynard keynes's model, the most important determinant of current consumption is current income. in irving fisher's model, the most important determinant of current consumption is:
In John Maynard Keynes's model, the most important determinant of current consumption is indeed current income. In contrast, in Irving Fisher's model, the most important determinant of current consumption is the present value of expected future income.
Fisher's model focuses on the intertemporal choices people make regarding their consumption and saving decisions based on their expected income over time.
Irving Fisher was an American economist who made significant contributions to various areas of economics, including monetary theory, price theory, and the field of finance. One of Fisher's notable contributions is his model known as the "quantity theory of money" or the "Fisher equation."
According to Fisher's model, the product of the money supply (M) and velocity of money (V) is equal to the product of the price level (P) and real output (Q). The equation implies that changes in the money supply or velocity of money will have an impact on the price level or real output in the economy.
Fisher's model provides the basis for understanding the relationship between money and inflation. It suggests that an increase in the money supply, if not matched by a corresponding increase in real output or a decrease in velocity, will lead to an increase in the price level. Similarly, a decrease in the money supply or a decrease in velocity, without a corresponding decrease in real output, can result in a decrease in the price level.
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When the demand for a good or service limits the quantity that can be sold to an output at which the firm experiences economies of scale,.
When the demand for a good or service limits the amount that can be sold to an output at which the firm experiences economizing of scale, the firm is a natural monopoly.
What is the distinction between genuine monopoly and monopoly?
A natural monopoly is a firm with such extreme economies of scale that once it starts creating a certain level of output, it can produce more at a far lower cost than any smaller competitor. Natural monopolies exist far more continually than pure monopolies, mainly because the conditions are not as stringent.
Which statement is the best description of a natural monopoly?A natural monopoly is a monopoly that occurs because a single firm can supply a good or assistance to an entire market at a smaller cost than could two or more companies.
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What are four types of taxes that you pay (or are likely to pay in the future)? Describe these types of taxes
Four types of taxes that you can pay are the State Withholding Tax, a Federal Withholding Tax, a Property Tax, and a Sales Tax. Both withholding taxes are withheld from your paycheck going into state officials and federal officials. Property Taxes are charged against any personal property that you own, and Sales Tax is what you pay on any purchases that you buy, each price varying depending on what state or country you're in.
The State Withholding Tax, Federal Withholding Tax, Property Tax, and Sales Tax are the four sorts of taxes you can pay.
What is Property Tax?
A property tax, usually referred to as a millage rate, is levied by the majority of regional governments in the United States as their main revenue source. Either real estate or private possessions may be subject to this tax. The majority of property owners are required by law to pay real estate taxes in each of the 50 states of the United States, and state property taxes differ.
It's interesting to note that in the USA, property taxes are the main source of income for state and local governments. Property taxes are assessed based on the value of your home, and the average rate is now between 0.1% and 1.9%.
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an organization that pools individuals with similar skills and creates information channels across task boundaries is referred to as which type of organizational chart?
A matrix organizational chart refers to an organization that combines workers with comparable skills and develops information conduits across task boundaries.
What exactly is a Matrix organization chart?A matrix organization is a working system in which members of a team report too many bosses. In a matrix organization, team members (whether they are internal or remote) report to both their department head and the project manager.
This management structure might assist your organization in developing new products and services without reorganizing teams. In matrix organizations, there are two or more management reporting structures.
While this may appear to be perplexing at first, team members normally report to a primary manager for their department. There are three types of matrix management, with each giving the project manager more or less authority.
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1. [2 pts] What is the cost to prepare a machine or process for production? a) preparation cost b) setup cost c) holding cost d) ordering cost. 2. William Beville's computer training school, in Richmond, stocks workbooks with the following characteristics: Demand D 19,100 units/year Ordering cost S $23/order Holding cost H $3/unit/year. a) [2 pts] The EOQ for the workbooks is ____ (round your response to the nearest whole number). b) [2 pts] What are the annual holding costs for the workbooks? _____ (round your response to the nearest whole number). c) (2 pts] What are the annual ordering costs? ____ " (round your response to the nearest whole number).
a) The cost to prepare a machine or process for production is typically referred to as setup cost, which is option (b).
b) The EOQ (Economic Order Quantity) for the workbooks can be calculated using the following formula:
EOQ = √((2DS) / H)
where D is the demand in units per year, S is the setup or ordering cost per order, and H is the holding cost per unit per year.
From the given data:
Demand (D) = 19,100 units/year
Ordering cost (S) = $23/order
Holding cost (H) = $3/unit/year
Plugging these values into the EOQ formula:
EOQ = √((2 x 19,100 x 23) / 3)
Calculating the EOQ, rounding to the nearest whole number:
EOQ ≈ 485 units/year
So, the EOQ for the workbooks is approximately 485 units/year.
c) The annual ordering costs can be calculated by multiplying the EOQ by the ordering cost (S):
Annual Ordering Costs = EOQ x S
= 485 x 23
= $11,155
So, the annual ordering costs for the workbooks is $11,155, rounded to the nearest whole number.
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Front desk agents should authorize (validate) the card used by a guest as that guest's preferred form of payment at the time:of hotel rooms remaining to be sold.of the guest's arrivalSell-out
Front desk agents should validate the card used by a guest as that guest's preferred form of payment at the time of the guest's arrival (c).
This helps ensure that the payment method is valid and can be used to cover any charges during the guest's stay. It is also important to monitor the number of hotel rooms remaining to be sold and to consider the possibility of a sell-out, which could impact the guest's ability to extend their stay or make changes to their reservation.
By authorizing the card in advance and staying aware of the hotel's occupancy levels, front desk agents can help ensure a smooth and successful guest experience.
Front desk agents should authorize (validate) the card used by a guest as that guest's preferred form of payment at the time of the guest's arrival. This helps ensure a smooth check-in process and confirms the guest's ability to pay for their stay.
Therefore, the correct answer is option c. guest arrival.
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Stark company's most recent balance sheet reported total assets of $1,780,000, total liabilities of $860,000, and total equity of $920,000. its debt-to-equity ratio is:________
Stark company's debt-to-equity ratio in the most recent balance sheet is 0.93
What is debt-to-equity ratio?
Debt-to-equity ratio is the ratio of the firm's total debts to its equity, in essence, the total debts compared to the owners' funds invested in the company.
The debt-to-equity ratio shows how leveraged, the extent of firm's dependence on external funding in terms of debt
debt-to-equity ratio=debt/equity
total liabilities=debt=$860,000
total equity=$920,000
debt-to-equity ratio=$860,000/$920,000
debt-to-equity ratio=0.93
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1. Bounding the Tail of a Distribution A community has an average age of 45 years with a standard deviation of 5 years. In each part below, fill in the blank with a percent that makes the statement true without further assumptions, and explain your answer. Note: No credit will be given for loose bounds such as "at least 0%" or "at most 100%". Give the best answer that is possible with the information given. Question 1.1. At least % of the people are between 25 and 65 years old. (6 Points) Type your answer here, replacing this text. Question 1.2. At most ___% of the people have ages that are not in the range 25 years to 65 years. (6 Points) Type your answer here, replacing this text. Question 1.3. At most % of the people are more than 65 years old. (6 Points) Hint: If you're stuck, try thinking about what the distribution may look like in this case. Type your answer here, replacing this text.
The answer to Question 1.1 is: At least 95% of the people are between 25 and 65 years old.
The answer to Question 1.2 is: At most 5% of the people have ages that are not in the range of 25 years to 65 years.
The answer to Question 1.3 is: At most 0.003% of the people are more than 65 years old.
Given that the average age is 45 years with a standard deviation of 5 years, we can calculate the range within two standard deviations of the mean as follows:
Lower bound: 45 - (2 * 5) = 35 years
Upper bound: 45 + (2 * 5) = 55 years
This means that at least 95% of the people are between 25 and 65 years old.
Therefore, the answer to Question 1.1 is: At least 95% of the people are between 25 and 65 years old.
Question 1.2: At most ____% of the people have ages that are not in the range of 25 years to 65 years.
If we consider the complement of the previous answer, where 95% of the people are between 25 and 65 years old, the remaining percentage outside this range would be:
100% - 95% = 5%
Therefore, the answer to Question 1.2 is: At most 5% of the people have ages that are not in the range of 25 years to 65 years.
Question 1.3: At most ____% of the people are more than 65 years old.
To find the percentage of people who are more than 65 years old, we need to consider the upper tail of the distribution. Since we know the standard deviation is 5 years, and we want to find the percentage above 65 years, we can calculate the z-score using the formula:
Z = (X - μ) / σ
Z = (65 - 45) / 5 = 4
Looking up the corresponding z-score of 4 in a standard normal distribution table, we find that the area under the curve beyond 4 standard deviations is approximately 0.00003, which is equivalent to 0.003%.
Therefore, the answer to Question 1.3 is: At most 0.003% of the people are more than 65 years old.
More can be learned about the Empirical Rule at brainly.com/question/10093236
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