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A company sells two products whose demand functions are given by and
So,the total revenue is given by
Estimate the average revenue if the price
varies between $25 and $50 and the price
varies between $25 and $50.
Null Hypothesis
A statement that there is no effect or no difference, which is tested statistically to be either rejected or not rejected based on data.
Expected Frequencies
The predicted count of occurrences across different categories in a statistical analysis.
Observed Frequencies
The actual counts or occurrences of variables in a dataset, as recorded or observed without any modifications.
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