Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
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Question
Chapter 1, Problem 57E
(a)
To determine
Draw the pie chart for purchases.
(b)
To determine
Draw the bar chart for these purchases.
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Students have asked these similar questions
Туре of
each type of subscriber website
Number of
Travel and
Travel
Cooking
website
cooking
subscriber
only
only
bundle
1,000
Travelers
$10
$6
$16
1,000
Cooks
$5
$10
$15
As shown in the table above, a company is targeting two groups of consumers-those who love to travel and those who love to cook. The company has very
useful web content that it wants to market to these two groups, and it has estimated what each group would be willing to pay (their demand prices) for access to
each type of content for a month.
What is the best option for the company?
Select one:
a. Price the travel website at $5/month, the cooking website at $6/month, and sell them separately.
O b. Price a bundle of the two websites at $16/month.
O c.
Price the travel website at $10/month, the cooking website at 10/month, and sell them separately.
O d. Price a bundle of the two websites at $15/month.
Ever since the Indian government opened up its telecom industry to competition in 1999, Indian consumers have seen their phone bills shrink. In 2000, the charge for making a call with a cellular phone was 16 rupees per minute (about 27 U.S. cents) By 2011 that rate had fallen to 1 paisa per second-roughly 1 cent per minute. In the same time period, the number of mobile subscribers skyrocketed from 2 million to 584 million. Today, there are 930 million cellular subscribers, making India the world's second largest mobile phone market. How did all this come about? India opened the telecom market to new entrants,reduced license fees, and lowered tariffs, encouraging dozens of firms to complete for India telephone customers.
(A) by what percentage did the price of a phone minute decline after competition emerged?
(B) By what percentage did the quantity demanded increase?
(C) what was the apparent price elasticity of demand?
Suppose Government of Pakistan wants to put a curb on public smoking. Studies indicate that the price elasticity of demand for
cigarettes is about 0.4. If a pack of cigarettes currently costs Rs.175 and the government wants to reduce smoking by 30 percent, by
how much should it increase the price?
Kindly type only percentage change in the box given below. Do not use percentage sign in the box. Also, do not use any plus or minus
sign in the box.
Chapter 1 Solutions
Statistics for Business and Economics
Ch. 1.2 - Prob. 1ECh. 1.2 - Prob. 2ECh. 1.2 - Prob. 3ECh. 1.2 - Prob. 4ECh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10E
Ch. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.4 - Prob. 20ECh. 1.4 - Prob. 21ECh. 1.4 - Prob. 22ECh. 1.4 - Prob. 23ECh. 1.4 - Prob. 24ECh. 1.4 - Prob. 25ECh. 1.4 - Prob. 26ECh. 1.4 - Prob. 27ECh. 1.4 - Prob. 28ECh. 1.4 - Prob. 29ECh. 1.5 - Prob. 30ECh. 1.5 - Prob. 31ECh. 1.5 - Prob. 32ECh. 1.5 - Prob. 33ECh. 1.5 - Prob. 34ECh. 1.5 - Prob. 35ECh. 1.5 - Prob. 36ECh. 1.5 - Prob. 37ECh. 1.5 - Prob. 38ECh. 1.5 - Prob. 39ECh. 1.5 - Prob. 40ECh. 1.5 - Prob. 41ECh. 1.5 - Prob. 42ECh. 1.5 - Prob. 43ECh. 1.5 - Prob. 44ECh. 1.5 - Sales revenue totals (in dollars) by day of the...Ch. 1.5 - Prob. 46ECh. 1.6 - Prob. 47ECh. 1.6 - Prob. 48ECh. 1.6 - Prob. 49ECh. 1.6 - Prob. 50ECh. 1 - Prob. 51ECh. 1 - Prob. 52ECh. 1 - Prob. 53ECh. 1 - Prob. 54ECh. 1 - Prob. 55ECh. 1 - Prob. 56ECh. 1 - Prob. 57ECh. 1 - Prob. 58ECh. 1 - Prob. 59ECh. 1 - Prob. 60ECh. 1 - Prob. 61ECh. 1 - Prob. 62ECh. 1 - Prob. 63ECh. 1 - Prob. 64ECh. 1 - Prob. 65ECh. 1 - Prob. 66ECh. 1 - Prob. 67ECh. 1 - Prob. 68ECh. 1 - Prob. 69ECh. 1 - Prob. 71ECh. 1 - Prob. 72ECh. 1 - Prob. 73ECh. 1 - Prob. 74E
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