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1. (a) The demand (D) and supply (S) equations for a commodity (X) are given by:-
D = 2000 – 20P
S = -500 + 30P, where P = Price (R) per unit
(i) Find the equilibrium price and quantity and show on a suitable diagram. (4 marks)
(ii) Calculate Price Elasticity of Demand (PED) when price rises from R20 to R80. (2 marks)
(iii) A specific sales tax of R30 per unit is imposed on the good. Explain and illustrate the changes to part (i). (3 marks)
(iv) Comment on the burden of the tax. (3 marks)
(b) Discuss the factors affecting: demand for, and supply of a good (18 marks
Consider the population consisting of the values (4, 6, 8).
a. List down all the possible samples of size 2 with replacement.
b. Compute the mean of each sample.
c. Compute the mean of the sampling distribution of means.
d. Identify the probability of each sample.
e. Compute the population mean.
f. Compare the population mean with the mean of the sampling distribution of means.
Directions: Show your complete solutions legibly for every item
1. Given the following reaction:
Mg(OH)2+ 2 HCI - MgCl2+ 2 H20
If 14.5.0 g of Mg(OH)2 and 12.0 g of HCI are combined
a. What is the limiting reactant?
b. How many grams of Mg Cl2 will be produced?
The determination of the probability and impact of the identified risks and opportunities is referred to as risk ......
1 identification
2 analysis
3 evaluation
4 review
The score of entrance examination takers who took a 600 item exam resemble a normal distribution with a mean of 220 and a standard deviations of 10. The coordinator would like to get the lowest 15% of thr scores and invite them for a retake examination. What range of scores indicates the inclusion in the retake of the exam?
The concept of entry barriers was pioneered by Bain in 1956. He defined a barrier to
entry as anything which places potential entrants at a competitive disadvantage
compared with established firms, so that established firms are able to earn abnormal
profits over the long run.
Pick any TWO (2) of Bain’s entry barriers and discuss how each applies to any South
African industry of choice.
“The SA pharmaceutical industry is expected to deliver R73bn in sales by 2025, according to
Invest SA’s Fact Sheet published by the department of trade & industry. That’s a significant
increase on the predicted estimate of R51bn for this year alone, ensuring that the
pharmaceutical industry is one of the most actively growing sectors in SA, and a huge
contributor to the country’s bottom line.Using the Structure – Conduct - Performance (SCP) paradigm, discuss the current ‘state of
affairs’ of the pharmaceutical industry in South Africa. Be mindful to outline the associated
SWOT analysis.
A molding machine prepares a certain kind of car spare part with a target
diameter p = 42.23 mm. The machine has some variability, so the standard
deviation of the diameter is o = 0.003 mm. A sample of 10 spare parts is
inspected each hour for the process control purposes and record are kept of
the sample mean diameter. What will be the mean and standard deviation of
the number recorded?
1. The scores of the individual students on a national test have a normal
distribution with the mean 19.5 and standard deviation of 5.6. At Ramos High
School, 86 students took the test. If the scores at this school have the same
distribution as national scores, what are the mean and standard deviation of the
sample mean for 86 students?
The average number of milligrams of cholesterol in a cup of a certain
brand ice cream is 670 mg and standard deviation is 45 mg, Assume the
variable is normally distributed.
a. If a cup of ice cream is selected, what is the probability that the
cholesterol content will be more than 700 mg?
b. If a sample of 20 cups is selected what is the probability that the mean of
the sample will be larger than 700mg?
#340153 on Dec 2023