The Local Police, Using Radar, Checked the Speeds (In Mph)

question 49

Essay

The local police, using radar, checked the speeds (in mph) of 30 motorists at a busy intersection. The results arelisted below. Construct a dot plot for the data. $$\begin{array} { l l l l l l l l l l } 44 & 38 & 41 & 50 & 36 & 36 & 43 & 42 & 49 & 48 \\35 & 40 & 37 & 41 & 43 & 50 & 45 & 45 & 39 & 38 \\50 & 41 & 47 & 36 & 35 & 40 & 42 & 43 & 48 & 33\end{array}$$

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Definitions:

Profit-maximizing Price

The price level at which a business can achieve the highest possible profits, given its cost structure and demand for its products.

Demand Curve

A graph that represents the relationship between the price of a good or service and the quantity demanded by consumers.

Cost Functions

Mathematical relationships expressing the cost of production as a function of the levels of various inputs.

Wheat Farmer

An individual or business involved in the cultivation of wheat as a primary crop.