Demand for Microwave Ovens -Consider the Demand for Microwave Ovens Dataset

question 62

Multiple Choice

Demand for Microwave Ovens $$\begin{array} { | l | l | l | l | l | } \hline \begin{array} { l } \text { Demand } \\\text { for } \\\text { Microwave } \\\text { Orens }\end{array} & \begin{array} { l } \text { Frequency } \\\text { of } \\\text { Dccumrence } \\\text { in Days }\end{array} & \text { Probability } & \begin{array} { l } \text { Cumulative } \\\text { Frobability }\end{array} & \begin{array} { l } \text { Random } \\\text { Number } \\\text { Inferval }\end{array} \\\hline 0 & 20 & 10.00 \% & 10.00 \% & 0 \text { to } 9 \\\hline 1 & 40 & 20.00 \% & 30.00 \% & 10 \text { to } 29 \\\hline 2 & 70 & 35.00 \% & 65.00 \% & 30 \text { to } 64 \\\hline 3 & 50 & 25.00 \% & 90.00 \% & 65 \text { to } 89 \\\hline 4 & 10 & 5.00 \% & 95.00 \% & 90 \text { to } 94 \\\hline 5 & 10 & 5.00 \% & 100.00 \% & 95 \text { to } 99 \\\hline\end{array}$$
-Consider the Demand for Microwave Ovens dataset.What is the total demand corresponding to random numbers 96,18,36,32,38,and 3?

• A)11
• B)12
• C)13
• D)14

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Definitions:

Key Resource

A fundamental input or asset used by businesses to produce goods and services.

Product Supply Curve

A graphical representation showing the relationship between the quantity of goods that producers are willing to supply and the market price.

Shift To The Right

A term often used in economics to describe an increase in supply or demand, represented graphically by a curve moving to the right on a graph, indicating growth or expansion.

Supply Curve Equation

The supply curve equation represents the relationship between the price of a good and the quantity of the good that producers are willing to supply, typically showing a positive relationship.