Use the following general linear demand relation: 
where P is the price of good X,M is income,and 
is the price of a related good,R.If income increases to $100,000 and the price of the related good is now $20,what is the demand function?
Definitions:
Normal Distribution
A probability distribution that is evenly balanced around the mean, indicating that values close to the mean occur more frequently than values that are distant from the mean.
Standard Deviation
An indicator of the spread or distribution of a group of numbers, showing the degree to which these numbers vary from the average.
Uniform Distribution
A type of probability distribution in which all outcomes are equally likely over a given interval.
Probability
The measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1.
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