The Graph Shows the Actual Percentage of U $P ( x ) = \frac { 90 } { 1 + 5.45 ( 1.05 ) ^ { - x } }$

question 36

Short Answer

The graph shows the actual percentage of U.S. households with a computer as a function of household income (the data points) and a logistic model of these data (the curve). The logistic model is

$P ( x ) = \frac { 90 } { 1 + 5.45 ( 1.05 ) ^ { - x } }$
where x is the household income in thousands of dollars. According to the model, what percentage of extremely wealthy households had computers

P = __________%

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Definitions:

Raw Materials

The basic substances in their natural, modified, or semi-processed state, used as inputs to a production process for manufacturing goods.

Manufacturing Operations

Activities related to the production of goods, including the conversion of raw materials into finished products, often involving a combination of human labor, machinery, and technology.

Raw Materials Used

The basic materials and components that are consumed in the manufacturing process to produce finished goods.

Total Cost

Total cost refers to the sum of all expenses incurred in producing a product or providing a service, including both fixed and variable costs.