A survey of 77 customers was taken at a bookstore regarding the types of books purchased. The survey found that 46 customers purchased MYSTERIES, 38 purchased SCIENCE FICTION, 32 purchased ROMANCE NOVELS, 20 purchased MYSTERIES AND SCIENCE FICTION, 17 purchased MYSTERIES AND ROMANCE NOVELS, 13 purchased SCIENCE FICTION AND ROMANCE NOVELS, and 6 purchased all three types of books.

a). how many of the customers surveyed purchased only mysteries?

b). how many purchased mysteries and science fiction, but not romance novels?

c). how many people purchased mysteries or science fiction?

d). how many people purchased mysteries or science fiction, but not romance novels?

e). how many purchased exactly two types of books?

List and explain the factors that influence price elasticity of demand. What will make demand more or less elastic?

Explain the relationship between price elasticity and total revenue.

Define and explain how marginal, total and average values are related in general and specifically for utility, product, cost, revenue and profit.

Explain why diminishing marginal utility is related to the Law of Demand.

Explain the difference between economic and accounting profit.

Explain why increasing MC is related to the Law of Supply.

Explain how differences in market structure (perfect competition, monopoly, monopolistic competition and oligopoly) affects how a firm perceives the demand curve and marginal revenue, and thus profit maximizing output and overall efficiency (price relative to marginal cost).

Explain how barriers to entry and long term price and profitability (P-AC) are related, and how that might impact antitrust and regulatory policy.

42, 31, 48, 12, 21, 17, 27, 22, 35, 19, 17

Let's include one more data point in the data set. Suppose this new data value lies between the values 12 and 48, inclusively.

Find the smallest possible value of the median of the new data set

Find the largest possible value of the median of the new data set

27% of all college students major in STEM (Science, Technology, Engineering, and Math). If 45 college students are randomly selected, find the probability that

a. Exactly 13 of them major in STEM.

b. At most 12 of them major in STEM.

c. At least 9 of them major in STEM.

d. Between 8 and 15 (including 8 and 15) of them major in STEM.

You would like to study the weight of students at your university. Suppose the average for all university students is 159 with a SD of 27 lbs, and that you take a sample of 31 students from your university.

a) What is the probability that the sample has a mean of 160 or more lbs?
probability =

b) What is the probability that the sample has a mean between 164 and 167 lbs?
probability =

As you read the selections from Beard (2017) and Paul and Elder (2012), what is the connection between strategic thinking and creativity?

Beard, K. (2015). Theoretically speaking: An interview with Mihaly Csikszentmihalyi on flow theory development and its usefulness in addressing contemporary challenges in education. Educational Psychology Review, 27(2), 353-364. doi:10.1007/s10648-014-9291-1

In order to vest in the pension plan, Sarah must work at her job for 10 years and contribute 2% of her salary to the pension fund. If she does works at least 10 years, she will receive a percentage of the last year before she retires salary. Assume the amount she receives each year in retirement is 40% of her final salary and is guaranteed to be paid out each year until death. If she does not stay the full 10 years, she will be refunded the amount she has contributed, plus 1% interest. Alternatively, she can contribute 5% of her salary into a 401 (k) plan and UConn will match it with 5% of her salary (i.e. she puts in $1, UConn also puts in $1). There is no vesting period in order to receive this matching and she can walk away with the full amount if she ever decides to leave. There are three different investment options – a safe investment that cannot go down in value and generates a 3% return annually, a passive market index that moves up and down with the S&P500, and actively managed mutual fund that holds a mix of stocks and bonds.

What information would you need from Sarah in order to give her sound advice?

For a particular chemical synthesis, the effect of precursor concentration and catalyst amount were studied.

Calculate the : a)effect of each factor and interaction between factors, b)significance of each factor and interactions, c) residuals between the actual value and the linear statistical model based on the estimates from 1. Do you think the residuals are normally distributed.

SkiBlu, Ltd., divides its customers into Gold customers and Silver customers. The company has one full-time customer representative per 1,000 Gold customers and one full-time customer representative per 10,000 Silver customers. Customer representatives receive salaries plus bonuses of 10 percent of customer gross margin. SkiBlu spends 90 percent of its promotion costs on Gold customers to encourage their loyalty.

Required:

a. Calculate the totals of the items below for both gold and silver customers, as well as the excess of gross margin over customer costs for each category.

SkiBlu, Ltd., divides its customers into Gold customers and Silver customers. The company has one full-time customer representative per 1,000 Gold customers and one full-time customer representative per 10,000 Silver customers. Customer representatives receive salaries plus bonuses of 10 percent of customer gross margin. SkiBlu spends 80 percent of its promotion costs on Gold customers to encourage their loyalty.

Required:

a. Calculate the totals of the items below for both gold and silver customers, as well as the excess of gross margin over customer costs for each category. (Do not round intermediate calculations.)

b. Which customers are more profitable?

Gold or Silver?