The Price Elasticity of Demand Is Expressed as the

question 71

Multiple Choice

The price elasticity of demand is expressed as the

• A)percentage change in the quantity demanded divided by the percentage change in income.
• B)percentage change in the price divided by the percentage change in the quantity demanded.
• C)percentage change in the quantity demanded divided by the percentage change in the price.
• D)percentage change in supply divided by the percentage change in demand.
• E)absolute change in the quantity demanded divided by the absolute change in the price.

Know the difference between control charts for variables and charts for attributes.

Interpret sample proportions in the context of p charts.

Apply statistical process control methods to detect shifts or trends in manufacturing processes.

Understand the basic concepts of odds and probability in the context of logistic regression.