explain why consumers end up paying most of an added - id13251209, kawaiiblurainbow

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Business: explain why consumers end up paying most of an added tax on a product with a predictable, inelastic demand (such as gasoline) while companies often pay most of an added tax on a product with a variable, elastic demand (such as luxury watches​

kawaiiblurainbow · Accepted Answer

The best predicted pulse rate of a woman who is 74 inches tall is 80.4 (beats per minute).

Step-by-step explanation:

The best predicted pulse rate of a woman who is 74 inches tall is obtained below:

Let x denotes height (in inches) and y denotes pulse rates (in beats per minute).

From the information, the regression equation is, the total number of women is 60 and the linear correlation coefficient between height and pulse rates is 0.234 and the mean of heights is 63.4 and the mean of pulse rates is 75.6. The estimated regression line is

^y= 17.5 + 0.850x

The required best predicted pulse rates is,

=17.5 + (0.850×74)

=17.5 + 62.9

= 80.4 beats per minute

explain why consumers end up paying most of an added tax on a product with a predictable, inelastic demand (such as gasoline) while companies often pay most of an added tax on a product with a variable, elastic demand (such as luxury watches

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explain why consumers end up paying most of an added tax on a product with a predictable, inelastic demand (such as gasoline) while companies often pay most of an added tax on a product with a variable, elastic demand (such as luxury watches​