1. The table to the right shows George’s, Thomas’s, Theodore’s, and Buyer Value Abraham’s willingness to pay for a painting of a mountain in South Dakota. On the supply side, the seller has two paintings to sell. George $100 Theodore $150 Thomas $250 Abraham $300 a. First, ignore the supply and draw the market demand curve for the paintings. Be specific and include the amounts on the axes that correspond to each point on the demand curve. b. Given the demand and posted price (from above) each of the four consumers wishes to purchase one painting but only two are available. We call this situation a _____________. Each of the four has an equal chance of getting one. List the sample space of this random event and the probability of each outcome. c. List all of the events from (b) that include Thomas receiving the painting. What is the probability that Thomas receives a painting? d. What is the probability that the two people who want the paintings the most are the same two who are able to purchase it. e. Use the complement formula to calculate the probability that at least one of the two who value the painting the least receives a paintings. Show your calculation. George. 100 Theodore 150 Thomas 250 Abraham 300 I need help on letter( E) to get the complementary formula
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
1. The table to the right shows George’s, Thomas’s, Theodore’s, and Buyer Value
Abraham’s willingness to pay for a painting of a mountain in South Dakota. On the supply side, the seller has two paintings to sell.
George $100 Theodore $150 Thomas $250 Abraham $300
a. First, ignore the supply and draw the market demand curve for the paintings. Be specific and include the amounts on the axes that correspond to each point on the demand curve.
b. Given the demand and posted price (from above) each of the four consumers wishes to purchase one painting but only two are available. We call this situation a _____________. Each of the four has an equal chance of getting one. List the
c. List all of the events from (b) that include Thomas receiving the painting. What is the probability that Thomas receives a painting?
d. What is the probability that the two people who want the paintings the most are the same two who are able to purchase it.
e. Use the complement formula to calculate the probability that at least one of the two who value the painting the least receives a paintings. Show your calculation.
George. 100
Theodore 150
Thomas 250
Abraham 300
I need help on letter( E) to get the complementary formula
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