Answer:
6
Explanation:
Under capitalistic economy, allocation of various resources takes place with the help of market mechanism. Price of various goods and services including the price of factors of production are determined with help of the forces of demand and supply. Free price mechanism helps producers to decide what to produce
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Answer:
384
Explanation:
To determine the sample size needed, we can use the formula for sample size calculation in a survey:
\[ n = \frac{Z^2 \times p \times (1-p)}{E^2} \]
Where:
- \( n \) = required sample size
- \( Z \) = Z-score corresponding to the desired confidence level (for 95% confidence, Z-score is approximately 1.96)
- \( p \) = estimated prevalence rate (0.40)
- \( 1-p \) = complementary probability to the estimated prevalence rate
- \( E \) = desired margin of error (0.05, as 5% of the true value)
Plugging in the values:
\[ n = \frac{(1.96)^2 \times 0.40 \times (1 - 0.40)}{(0.05)^2} \]
\[ n = \frac{3.8416 \times 0.24}{0.0025} \]
\[ n \approx 369.7856 \]
Rounding up to ensure an adequate sample size, the required sample size should be approximately 370 schoolchildren to achieve a 95% chance of observing the prevalence rate within 5% of the true value.
The size of the sample of schoolchildren should be approximately 36880 to give a 95% chance of observing the prevalence rate to within 5% of the true value.
To calculate the required sample size, we can use the formula:
n = (Z^2 * p * (1-p)) / E^2
Where:
In this case, the desired confidence level is 95%, which corresponds to a Z-score of approximately 1.96. The estimated prevalence of malaria is 40%, which can be expressed as 0.4. The margin of error is 5%, which can be expressed as 0.05.
Substituting these values into the formula:
n = (1.96^2 * 0.4 * (1-0.4)) / 0.05^2
Simplifying the equation:
n = (3.8416 * 0.24) / 0.0025
n = 92.1984 / 0.0025
n ≈ 36879.36
Rounding up to the nearest whole number, the required sample size is approximately 36880.
Learn more about sample size calculation for estimating prevalence here:
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b. operating activity.
c. revenue activity.
d. investing activity
Answer:
c. rise if the income effect is GREATER than the substitution effect.
Explanation:
The substitution effect refers to how changes in the price of a product or service affects our consumption of them, e.g. if the price of brand X increases too much, then we might decide to buy brand Y.
On the other hand, the income effect refers to how a change in our level changes our consumption habits, e.g. luxury goods tend to be extremely elastic, since earning more income results in much higher levels of consumption.
Since the price of the product is falling, the substitution effect is not likely to occur, instead, consumer utility might increase due to higher purchasing power, i.e. you can purchase more units spending the same amount of money.