What is the biggest result of the fundamental theorem of calculus?
All continuous functions have antiderivatives that are also continuous.
What is the price elasticity of demand?
Elasticity refers to the percentage change of one variable as a result of a percentage change of another. For the price elasticity of demand, the ratio is the percentage change in quantity consumed as a result of a 1% change in price.
Suppose that 30% of people skip breakfast and 40% of people skip lunch. If 50% of people eat both breakfast and lunch, what is the probability that a selected person skips both breakfast and lunch?
Let skipping breakfast be event A and skipping lunch be event B and the compliment denoted by an apostrophe. Then: Pr(A) = .30, Pr(B) = .40, Pr(A' AND B') = Pr((A OR B)') = .50, and thus Pr(A OR B) = 1 - .50 = .50 Pr(A AND B) = Pr(A) + Pr(B) - Pr(A OR B) = .30 + .40 - .50 = .20