Homework Answers
III doesnot clearly staye the facts. II clearly violates the assumption.
hence the correct option is only II.
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Lucas prefers chocolate ice-cream to vanilla ice-cream and strawberry ice-cream to mint ice-cream. Consider the following...
Assignment 3 Pathway: Business Ice Cream Flavors Chocolate Vanilla Strawberry Puthie Cake Batter Mint Chocolate Chip...
Assignment 3 Pathway: Business Ice Cream Flavors Chocolate Vanilla Strawberry Puthie Cake Batter Mint Chocolate Chip Rocky Road Bubble Gum Salted Caramel Other None Adult 33 24 24 12 23 Child 13 22 9 1 18 14 25 Total 16 Above is data for ice cream preferences of adults and children. The total for each flavor is found in the last row of the table. 1. Find the probability that the person preferred cake batter ice cream. 2. Find the...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of ice cream, and then creates its specialty flavors by mixing two or more basic flavors in equal proportions (a) How many specialty flavors can be obtained by mixing three basic flavors? How many of these contain chocolate? How many of these contain either chocolate or fudge or both? How many of these contain eiterhocolate or fudge but not both? (b) How many distinct flavors...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of ice cream, and then creates its specialty flavors by mixing two or more basic flavors in equal proportions (a) How many specialty flavors can be obtained by mixing three basic flavors? How many of these contain chocolate? How many of these contain either chocolate or fudge or both? How many of these contain either chocolate or fudge but not both? (b) How many distinct...
Question 3 Ice Cream Preferences 4 point(s) After working at an ice cream parlor for many...
Question 3 Ice Cream Preferences 4 point(s) After working at an ice cream parlor for many years, the manager noticed some trends and decided to collect some data. The following are the results for the customers' ordering preferences: (1) 50% of the customers ordered Chocolate, 30% ordered Vanilla, and 20% ordered Strawberry (II) 80% of the customers ordered a Cone, while 20% ordered a Cup for their ice cream. (Il) The event "a randomly selected customer will order Chocolate" is...
What flavor of ice cream would you pick? Chocolate Vanilla Neither Children 40 22 15 Teens...
What flavor of ice cream would you pick? Chocolate Vanilla Neither Children 40 22 15 Teens 12 16 45 Adults 55 54 10 Total 107 92 70 121 109 Olix I (Adult(x)ยป chocolate) v (Adult (x) vanilla) }| Olx I (Teens(x) chocolate) v (Adult(x) vanilla)} lx I (Adult(x) chocolate) v (Teens(x) vanilla)}| O(x I (Children(x) vanilla) chocolate) v (Teens(x)
What flavor of ice cream would you pick? Chocolate Vanilla Neither Children 40 22 15 Teens 12 16 45 Adults 55...
Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $3 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven man
Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $3 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven manages Department SV and Charlene manages Department C. The product costs (per thousand gallons) follow. StrawberryVanillaChocolateDirect labor (per 1,000 gallons)$750$825$1,125Raw materials (per 1,000 gallons)800500600 Required:a. If the number of hours of labor per 1,000 gallons is 50 for strawberry, 55 for vanilla, and...
3. Indifference curves and preferences Edison likes both chocolate and ice cream. Assume that the more...
3. Indifference curves and preferences Edison likes both chocolate and ice cream. Assume that the more is better" principle applies to Edison; that is, he would always prefer to consume more of either good, holding the consumption of the other good constant. The points on Figure 1 represent combinations of ice cream and chocolate that Edison might choose to consume. Figure 2 shows the same points as Figure 1, but it also shows some of Edison's indifference curves: 11, 12,...
Historically, Ericson had been the low-cost producer of vanilla and chocolate ice crema and enjoy...
Historically, Ericson had been the low-cost producer of vanilla
and chocolate ice crema and enjoyed profit margins in excess of 20%
of sales. Several years ago, Dennis Selmor, the sales manager, had
seen opportunities to expand the business by extending the product
line to new flavours that earned premium selling prices. Five years
earlier, Ericson had introduced strawberry ice cream, which
required the same basic production technology but could be sold at
prices that were 3% higher than vanilla and...
Suppose the market of ice-cream is competitive. A typical firm producing ice- cream has the following...
Suppose the market of ice-cream is competitive. A typical firm producing ice- cream has the following total cost function: C = 60 + 3q + 6q2 where C is total cost and q is the output level. Assume the market price of ice-cream is $39. i) Find the marginal cost function of a typical ice-cream firm. Show your steps. ii) Find the profit maximizing output level of a typical ice-cream firm. Show your steps. iii) Find the amount of loss...
Suppose Norah consumes only two goods, x and y. Which of the following statements MUST be...
Suppose Norah consumes only two goods, x and y. Which of the following statements MUST be true? (Note, consider each statement independently) 1. If the price of x increases keeping income and price of y fixed, she will consume more of x if x is inferior good. II. If the price of x increases keeping income and price of y fixed, she will consume more of y if y is an inferior good. III. If the price of y increases...
Assignment 3 Pathway: Business Ice Cream Flavors Chocolate Vanilla Strawberry Puthie Cake Batter Mint Chocolate Chip Rocky Road Bubble Gum Salted Caramel Other None Adult 33 24 24 12 23 Child 13 22 9 1 18 14 25 Total 16 Above is data for ice cream preferences of adults and children. The total for each flavor is found in the last row of the table. 1. Find the probability that the person preferred cake batter ice cream. 2. Find the...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of ice cream, and then creates its specialty flavors by mixing two or more basic flavors in equal proportions (a) How many specialty flavors can be obtained by mixing three basic flavors? How many of these contain chocolate? How many of these contain either chocolate or fudge or both? How many of these contain eiterhocolate or fudge but not both? (b) How many distinct flavors...
1. An ice cream store manufactures five basic flavors (vanilla, chocolate, mint, strawberry, and fudge) of ice cream, and then creates its specialty flavors by mixing two or more basic flavors in equal proportions (a) How many specialty flavors can be obtained by mixing three basic flavors? How many of these contain chocolate? How many of these contain either chocolate or fudge or both? How many of these contain either chocolate or fudge but not both? (b) How many distinct...
Question 3 Ice Cream Preferences 4 point(s) After working at an ice cream parlor for many years, the manager noticed some trends and decided to collect some data. The following are the results for the customers' ordering preferences: (1) 50% of the customers ordered Chocolate, 30% ordered Vanilla, and 20% ordered Strawberry (II) 80% of the customers ordered a Cone, while 20% ordered a Cup for their ice cream. (Il) The event "a randomly selected customer will order Chocolate" is...
What flavor of ice cream would you pick? Chocolate Vanilla Neither Children 40 22 15 Teens 12 16 45 Adults 55 54 10 Total 107 92 70 121 109 Olix I (Adult(x)ยป chocolate) v (Adult (x) vanilla) }| Olx I (Teens(x) chocolate) v (Adult(x) vanilla)} lx I (Adult(x) chocolate) v (Teens(x) vanilla)}| O(x I (Children(x) vanilla) chocolate) v (Teens(x)
What flavor of ice cream would you pick? Chocolate Vanilla Neither Children 40 22 15 Teens 12 16 45 Adults 55...
3. Indifference curves and preferences Edison likes both chocolate and ice cream. Assume that the more is better" principle applies to Edison; that is, he would always prefer to consume more of either good, holding the consumption of the other good constant. The points on Figure 1 represent combinations of ice cream and chocolate that Edison might choose to consume. Figure 2 shows the same points as Figure 1, but it also shows some of Edison's indifference curves: 11, 12,...
Historically, Ericson had been the low-cost producer of vanilla
and chocolate ice crema and enjoyed profit margins in excess of 20%
of sales. Several years ago, Dennis Selmor, the sales manager, had
seen opportunities to expand the business by extending the product
line to new flavours that earned premium selling prices. Five years
earlier, Ericson had introduced strawberry ice cream, which
required the same basic production technology but could be sold at
prices that were 3% higher than vanilla and...
Suppose Norah consumes only two goods, x and y. Which of the following statements MUST be true? (Note, consider each statement independently) 1. If the price of x increases keeping income and price of y fixed, she will consume more of x if x is inferior good. II. If the price of x increases keeping income and price of y fixed, she will consume more of y if y is an inferior good. III. If the price of y increases...
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