μ = 183, σ = 20, n = 50. (Round your answers to 2 decimal places.)If the true mean is .9350 with a standard deviation of 0.0090
<h3>What is
standard deviation?</h3>
The standard deviation is a statistic that expresses how much variance or dispersion there is in a group of numbers. While a high standard deviation suggests that the values are dispersed over a wider range, a low standard deviation suggests that the values tend to be close to the mean (also known as the anticipated value) of the collection.
The lower case Greek letter (sigma), for the population standard deviation, or the Latin symbol s, for the sample standard deviation, are most frequently used in mathematical texts and equations to indicate standard deviation. Standard deviation may be written as SD.
A random variable, sample, statistical population, data set, or probability distribution's standard deviation is equal to the square root of its variance.
To learn more about standard deviation from the given link:
Answer:
The manger did not make a mistake
To determine the effect that an increase in price would have on revenue, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price
Price elasticity of demand = percentage in quantity demanded / percentage change in price
4% / 5% = 0.8
The elasticity of demand is less than 1, this means that demand is inelastic
When demand is inelastic, if price is increased, the fall in quantity demanded would be less than the increase in price. As a result, if price is increased total revenue would fall.
Based on the manger's calculation, demand is inelastic, so she was not wrong in increasing price.
Explanation:
Although the customer is unquestionably the cornerstone to a successful organization, client centricity has several drawbacks, ranging from financial to innovation-related areas.
The drawabacks can be listed as:
Businesses create customer-focused policies in an effort to impress and keep consumers, but doing so can be expensive and may not be financially prudent.
- <u>Not every customer is equivalent!</u>
Although the customer is always right, not all customers are suitable for your company. So, building just a customer based approach can harm your business.
- <u>Customers are unsure too!</u>
Many marketers feel that if a company is consumer-focused, it will learn what the clientele truly desires and prosper.
While it's crucial for businesses to pay attention to their customers, they also need to know when to shift their attention away from them.
- <u>Love the Customer, but Don't Expect Love in Return</u>
According to conventional knowledge, clients are more loyal to companies that go above and beyond their expectations; nonetheless, your customers may betray you in order to get the cheap, satisfying solutions they actually desire.
To know more about the topic, refer to:
brainly.com/question/20935329
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Answer:
(B)
Explanation:
The price paid by buyers will not change, and the price received by sellers will not change because;
First,
Buyers paid 4$ tax before, later government removes or substracts -$4 tax away causing tax on meal purchased by buyers = $0.
Second,
Prior to removal of the tax on buyers of meals, sellers would have likely included this cost $4 into their cost of meals to buyers.
Now buyers are not imposed tax but the sellers are. Sellers would include this cost into the cost of meals, which is then transferred to buyers.
The equation would look this way;
Cost +$4 tax - $4 tax= + $4
The same cost would apply.
