-Refer to the Information Above to Answer This Question

question 29

Multiple Choice

-Refer to the information above to answer this question.At what price is total revenue maximized?

• A)$14.
• B)$16.
• C)$18.
• D)$20.
• E)$22.

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Definitions:

Population Mean

The average value of a population parameter, which is the sum of all values in a dataset divided by the total number of values.

Confidence Interval

A compilation of numbers, resulting from the analysis of sample statistics, seen as encompassing the value of an unfounded population attribute.

Population Proportion

The fraction or percentage of a population that possesses a particular characteristic, attribute, or criterion.

Confidence Interval

A stretch of values, sourced from sampling, that is predicted to include the value of an elusive population characteristic.