Question

18+
(a) An economist believes there is a linear relationship between the market
price of a particular commodity and the number of units suppliers of the
commodity are willing to bring to the marketplace. Two sample
observations indicate that when the price equals $15 per unit, the weekly
supply equals 30,000 units; and when the price equals $20 per unit, the
weekly supply equals 48,000 units.​

Answer 1

Probability is an essential tool in applied mathematics and mathematical modeling. ... It is vital to have an understanding of the nature of chance and variation in life, in order to be a well-informed, (or “efficient”) citizen. One area in which this is extremely important is in understanding risk and relative risk.

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