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You are given the following supply and demand equations:
QD = 100 - 2P QS = 10 + P
a.What will be the quantity demanded at a price of $40?
b.What will be the quantity supplied at the price of $30?
c.What is the equilibrium price and equilibrium quantity?
Sampling Distribution
The probability distribution of a given random-sample-based statistic.
Variances
A measure of the dispersion or spread in a set of data points, indicating how much the values in a dataset differ from the mean.
Mean
The average of a set of numbers, calculated by adding them together and dividing by the count of the numbers.
Random Samples
A group of people selected from a larger pool where every person has the same probability of being chosen.
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