14111cwir11ws.12 - 56 The quantity demanded each month of a...

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53. It is known that 62% of Aggies purchased an all-sports pass. If 50 Aggies are randomly selected, what is the probability that at most 29 of them own a sports pass? 54. Shade the following regions on a Venn Diagram: (a) A ( B C ) (b) B C c (c) ( A B ) ( B c C ) 55. It is known that the length of newborns is normal distributed with a mean of 21 inches and standard deviation of 3 inches. What is the probability that a randomly selected newborn has a length between 18 and 24 inches?
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Unformatted text preview: 56. The quantity demanded each month of a certain brand of coffee machine is 275 when the unit price is $50. For each decrease in unit price of $5 below $50, the quantity demanded increases by 30 units. The suppliers will not market any coffee machines if the unit price is $30 or lower. But at a unit price of $60, they are willing to supply 400 units. Find the equilibrium quantity and the equilibrium price. 12...
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