Question
A firm finds that for the product it produces, its (own)
price elasticity of demand is 4. Currently, the firm is selling 1000 units per month at Rs. 5 per unit. If it wishes to increase its sales by 10%, it mustSolution
PED = % change in qty/ % change in price 4 = 10%/% change in price % change in price = 2.5%. Since qty has increased, the price will fall by 2.5%.
When analyzing customer buying behavior, which of the following metrics would be most critical in assessing customer loyalty and retention?
Which of the following best describes the role of data analysis in credit scoring within the finance industry?
Which of the following best describes the primary purpose of a data warehouse in analytics?
In R, which function is used to view the first few rows of a dataset?
A scatter plot reveals a strong positive linear relationship between two variables. Which of the following is the most appropriate statistical measure t...
Which regex matches any single character?
Which of the following statements is true about the implementation of a circular queue?
What is the purpose of calculating an appropriate sample size in data analysis?
To reduce bias in a sampling process, which of the following strategies is most effective?
In an AVL tree, what happens if a node insertion causes the balance factor of a node to become +2 or -2?
