The mode represents the most typical value of a distribution and it should coincide with an existing
item. The mode is not affected by the presence of extremely large or small items. It is not used
extensively because of the following limitations:
- It is often not clearly defined
- Exact location is often uncertain
- It is unsuitable for further algebraic treatment
- It does not take into account extreme values
Mutiso answered the question on December 6, 2018 at 08:31
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Date posted: December 6, 2018. Answers (1)
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Date posted: December 6, 2018. Answers (1)
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Drumstick Chicken Wings Ltd supplies chicken wings for Kuku Inn with the following demand and cost
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P = 100 – 0.01 x - Price
TC = 50x + 30,000 - Total cost
Where:
x – number of chicken wings supplied.
Required:
i) Total revenue for Drumstick Chicken Wings Ltd.
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Date posted: December 6, 2018. Answers (1)
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Date posted: December 6, 2018. Answers (1)
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Required:
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Date posted: December 6, 2018. Answers (1)
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Two firms A and B in Nairobi Industrial area make glue. The cost functions for making glue for the two
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Firm A - C = 0.2x + 200
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Date posted: December 6, 2018. Answers (1)
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Date posted: December 6, 2018. Answers (1)
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could be represented by the equation:
MC = x2– x + 2
and that its fixed costs will be Sh.500 per month.
Required:
i) Determine the average cost and revenue equations for this firm.
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Date posted: December 6, 2018. Answers (1)
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The number of shoppers queuing at any given time in a certain supermarket in downtown Nairobi can be
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Required:
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Required:
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Date posted: December 6, 2018. Answers (1)
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Date posted: December 6, 2018. Answers (1)
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Date posted: December 6, 2018. Answers (1)
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Demand function for a firm is given by
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P is the price of the product, Q is the quantity demanded, and the total cost (C) is given by
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Date posted: December 6, 2018. Answers (1)