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

question 32

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 59,46,49,31,68,and 60?

• A)12
• B)13
• C)14
• D)15

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Definitions:

Marginal Benefit

The added utility or pleasure that comes from the consumption of one more unit of a good or service.

Marginal Cost

The escalation in aggregate cost linked to the fabrication of an extra item of a good or service.

Free Products

Products that are provided to consumers without monetary charge, often used as a business strategy to attract users or customers.

Firms

Businesses or enterprises that engage in commercial, industrial, or professional activities, whether for profit or not.