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Revenue and profit functions. A company manufactures 10- and 3-speed bicycles. The weekly demand and cost functions are
where $p is the price of a 10-speed bicycle. $q is the price of a 3-speed bicycle, x is the weekly demand for 10-speed bicycles, y is the weekly demand for 3-speed bicycles, and C(x, y) is the cost function. Find Rx( 10, 5) and Px(10, 5), and interpret the results.
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Chapter 7 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (13th Edition)
- 11. Prove or disprove: (a) If is a characteristic function, then so is ²; (b) If is a non-negative characteristic function, then so is √√4.arrow_forward17. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.2.050. Evaluate the integral. (Remember to use absolute values where appropriate. Use C for the constant of integration.) du 4√3- -4² Need Help? Read It SUBMIT ANSWER 18. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.2.051. Evaluate the integral. (Use C for the constant of integration.) - 49 dx x² +3 Need Help? Read It Watch It SUBMIT ANSWER 19. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.2.057. Evaluate the integral. (Remember to use absolute values where appropriate. Use C for the constant of integration.) 25+ x2 dxarrow_forwardLet (5,3,-7) and = (2, -3, -6). = Compute the following: u× u = -4(u xv) ux (-4v) (+v) × v=arrow_forward
- Let a = (4, -2, -7) and 6 = (2,5, 3). (ã − ò) × (ã + b) =arrow_forward4. Suppose that P(X = 1) = P(X = -1) = 1/2, that Y = U(-1, 1) and that X and Y are independent. (a) Show, by direct computation, that X + Y = U(-2, 2). (b) Translate the result to a statement about characteristic functions. (c) Which well-known trigonometric formula did you discover?arrow_forward9. The concentration function of a random variable X is defined as Qx(h) = sup P(x ≤ X ≤x+h), h>0. x (a) Show that Qx+b (h) = Qx(h). (b) Is it true that Qx(ah) =aQx(h)? (c) Show that, if X and Y are independent random variables, then Qx+y (h) min{Qx(h). Qy (h)). To put the concept in perspective, if X1, X2, X, are independent, identically distributed random variables, and S₁ = Z=1Xk, then there exists an absolute constant, A, such that A Qs, (h) ≤ √n Some references: [79, 80, 162, 222], and [204], Sect. 1.5.arrow_forward
- 29 Suppose that a mound-shaped data set has a must mean of 10 and standard deviation of 2. a. About what percentage of the data should lie between 6 and 12? b. About what percentage of the data should lie between 4 and 6? c. About what percentage of the data should lie below 4? 91002 175/1 3arrow_forward2,3, ample and rical t? the 28 Suppose that a mound-shaped data set has a mean of 10 and standard deviation of 2. a. About what percentage of the data should lie between 8 and 12? b. About what percentage of the data should lie above 10? c. About what percentage of the data should lie above 12?arrow_forward27 Suppose that you have a data set of 1, 2, 2, 3, 3, 3, 4, 4, 5, and you assume that this sample represents a population. The mean is 3 and g the standard deviation is 1.225.10 a. Explain why you can apply the empirical rule to this data set. b. Where would "most of the values" in the population fall, based on this data set?arrow_forward
- 30 Explain how you can use the empirical rule to find out whether a data set is mound- shaped, using only the values of the data themselves (no histogram available).arrow_forward5. Let X be a positive random variable with finite variance, and let A = (0, 1). Prove that P(X AEX) 2 (1-A)² (EX)² EX2arrow_forward6. Let, for p = (0, 1), and xe R. X be a random variable defined as follows: P(X=-x) = P(X = x)=p. P(X=0)= 1-2p. Show that there is equality in Chebyshev's inequality for X. This means that Chebyshev's inequality, in spite of being rather crude, cannot be improved without additional assumptions.arrow_forward
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