The demand for good X is given by

QXd = 6,000 - (0.5)PX - PY + 9PZ + (0.10)M

Research shows that the prices of related goods are given by Py = $6,500 and Pz = $100, while the average income of individuals consuming this product is M = $70,000.

a. Indicate whether goods Y and Z are substitutes or complements for good X.

Good Y is: (Click to select)a complementneither complement nor substitutea substitute

Good Z is: (Click to select)a substitutea complementneither complement nor substitute

b. Is X an inferior or a normal good?

Good X is: (Click to select)a normal goodan inferior goodneither a normal nor an inferior good

c. How many units of good X will be purchased when Px = $5,230?

d. Determine the demand function and inverse demand function for good X. Graph the demand curve for good X.

Instruction: Enter all coefficient as integers or decimal numbers.

Demand function:- PX

Inverse demand function: PX =- QXd

Instruction: Use the tool provided 'D' to graph the inverse demand curve from QX = 0 to QX = 6,000 (two points total).

The dean of a business college in the Midwest claims that he can correctly identify whether a sam student is a finance major or a music industry management major by the way the student dresses. Suppose in actuality that he can correctly identify finance majors 84% of the time, while 16% of the time he mistakenly identifies a music industry management major as a finance d N major. Presented with one student and asked to identify the major of this student (who is either a finance or music industry management major), the dean considers this to be a hypothesis test with the null hypothesis being that the student is a finance major and the alternative that the student is a music industry management major. ior Which of the following statements is an example of power of the test? sti A The probability of saying that the student is a music industry management major when in fact the student is a finance major. St B The probability of saying that the student is a finance major when in fact the student is a finance major. The probability of saying that the student is a finance major when in fact the student is C a music industry management major. The probability of saying that the student is a music industry management major D when in fact the student is a music industry management major.2. Answer parts (a) to (c) of this question. Suppose that two innovation opportunities exist, each costing $100 in initial outlay, but gener- ating different possible returns. Investment A generates a return of f150 with probability 0.5 and f100 with probability 0.5, while investment B generates a return of $180 with probability 0.5 and f10 with probability 0.5. (a) [10 marks] Define and calculate the expected return for each investment. (b) [30 marks] Compare and contrast the investment choice of a self-financed investor and an investor financed by debt. Explain your reasoning carefully. (c) [10 marks] What does your analysis in part (b) imply for the financing of new techno- logical investment?A business college offers degrees in management, finance, and accounting. Fifty percent of resent graduates were management majors, 30% were finance majors, and the remaining percent were accounting majors. A survey of recent graduates from this college found the probability that management majors had a job in their feld was 0.65,and the probability of 0.56 that finance majors had a job in their field, and a probability of 0.6 that an accounting major had a job in their field. (Draw the tree) Round your final answer to three decimal places If you randomly select a recent graduate from this college, find the probability they are not currently working a job in their field of study