[Multi-tiered pricing] PECO supplies electricity to households. For both questions 16 and 17, consider a specific...

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[Multi-tiered pricing] PECO supplies electricity to households. For both questions 16 and 17, consider a specific household whose monthly usage is normally distributed with a mean of 900 kWh and a standard deviation of 400 kWh. Question 16 1 pts Under PECO's current pricing scheme, it charges customers $0.11 per kWh. What would the household's average monthly bill be under this plan? (Enter only a number, which should be the average monthly bill in dollars. E.g. if your answer is $80.25, enter 80.25. Enter 0 if you think there is not enough information to determine the answer.) Question 17 2 pts PECO proposes a new multi-tiered pricing scheme for customers, based on usage. PECO argues that this new pricing scheme will actually reduce the monthly bills of its typical customer. Specifically, under the new plan, the customer would pay $0.10 per kWh for the first 800 kWhs of electricity consumed in a month, $0.15 per kWh for the next 200 kWhs (i.e., 800 kWhs through 1000 kWhs) and $0.35 per kWh for all additional kWhs (i.e., all consumption above 1000 kWhs). What would be the average monthly bill under this new plan for the specific household under consideration? (Enter only a number, which should be the average monthly bill in dollars. E.g. if your answer is $80.25, enter 80.25. Enter 0 if you think there is not enough information to determine the answer.) [Multi-tiered pricing] PECO supplies electricity to households. For both questions 16 and 17, consider a specific household whose monthly usage is normally distributed with a mean of 900 kWh and a standard deviation of 400 kWh. Question 16 1 pts Under PECO's current pricing scheme, it charges customers $0.11 per kWh. What would the household's average monthly bill be under this plan? (Enter only a number, which should be the average monthly bill in dollars. E.g. if your answer is $80.25, enter 80.25. Enter 0 if you think there is not enough information to determine the answer.) Question 17 2 pts PECO proposes a new multi-tiered pricing scheme for customers, based on usage. PECO argues that this new pricing scheme will actually reduce the monthly bills of its typical customer. Specifically, under the new plan, the customer would pay $0.10 per kWh for the first 800 kWhs of electricity consumed in a month, $0.15 per kWh for the next 200 kWhs (i.e., 800 kWhs through 1000 kWhs) and $0.35 per kWh for all additional kWhs (i.e., all consumption above 1000 kWhs). What would be the average monthly bill under this new plan for the specific household under consideration? (Enter only a number, which should be the average monthly bill in dollars. E.g. if your answer is $80.25, enter 80.25. Enter 0 if you think there is not enough information to determine the answer.)

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Question 16 Under PECOs current pricing scheme the household is charged 011 per kWh To calculate the ... View the full answer