Q. a) A statistics practitioner drew a random sample of 400 observations and found that x bar = 700 and s = 100. Approximate population mean with 90% confidence.
b) Repeat part a with a 95% confidence level
Q. if a graph contains two separate demand curves, D1 and D2, marginal revenue curve associated with each one MR1 and MR2, a total marginal revenue curve MRt along with marginal cost. Illustrate what is total amount of output firm should produce?