A consumer's utility is described by U(x, y) = xy. Marginal utilities then are described as MUX = y and MUy=x. Suppose the price of x is 1 and the price of y is 2. Consumer's income is 40. Then price of y falls to 1. When graphing, make sure to put x on the horizontal axis, and y on the vertical axis.
(a) Calculate the optimal consumption choice before the price change. Illustrate that choice on a graph. Label that choice A
(b) Calculate the optimal consumption choice the consumer would buy at the new price of y, if they wanted to get the same amount of utility as before the price change. Mustrate that choice on the same graph. Label that choice B
(c) What is the substitution effect of the price change? Illustrate on the graph.
(d) What is the optimal consumption choice after the price change? Illustrate on the graph and label that choice C (e) What is the income effect of the price change? Illustrate on the graph.

Answers

Answer 1

Before the price change, the optimal consumption choice (A) is determined by equalizing the marginal utilities of x and y.

Using the utility function U(x, y) = xy, and considering prices of Px = 1 and Py = 2, along with an income of 40, we find that the utility equalization condition leads to y = x/2.

With the budget constraint of x + 2y = 40, we solve for x = 20 and y = 10, giving the optimal consumption choice (20, 10) labeled as point A on the graph.

After the price change, with the price of y falling to 1, the consumer aims to maintain the same utility level. Setting MUX/Px = MUY/Py, we find x = y, and using the budget constraint x + y = 40, we get x = y = 20, resulting in the optimal consumption choice (20, 20) labeled as point B.

The substitution effect is illustrated by a movement from A to B along the budget constraint. The new optimal consumption choice (C) after the price change is determined by the new budget constraint x + y = 40, where x = 30 and y = 10, labeled as point C on the graph.

The income effect is depicted by the parallel shift of the budget constraint line outward from the origin.

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Related Questions

The longer piece of wood has dimensions of 1 inch by 1 inch by 8 inches. The
Short piece of wood has dimensions of 1 inch by 1 inch by 4 inches. How many
square inches of paint would be needed to cover all sides of this object?

Answers

I think you would need 18 squares

Raymond bought a car for $40,000. He took a 20,000 loan from a bank at an interest rate of 15% per year for a 5 - year period. What is the total amount ( interest and loan) that he would have to pay rhe bank at the end of 5 years

Answers

Answer:

$35,000

Step-by-step explanation:

The amount that would be repaid = amount borrowed + interest earned on loan

interest earned on deposit can be determined by determining the simple interest

Simple interest = principal x time x interest rate

principal = the amount deposited = 20,000

Time = the duration of the deposit =5  

interest rate = the percentage on deposit that would be earned = 15

20,000 x 5 x 0.15 = $15,000

total = 20,000 + 15,000 = $35,000

Please help! I need this answer right ! And I’m unsure can you LMK ASAP???

Answers

Answer:B

Step-by-step explanation:

Which expression is equivalent to 3t - 5 + 8t + 3 ?

Answers

Answer:

11t -2

Step-by-step explanation:

3t - 5 + 8t + 3

Combine like terms

3t +8t- 5  + 3

11t -2

Start by changing the problem to 3t + -5 + 8t + 3.

Now combine like terms.

Combine like terms → your numbers

and your "t" terms.

So 3t + 8t is 11t and -5 + 3 is -2.

So the answer is 11t - 2.

Given a smooth function / such that f(-0.2) = -0.91736, f(0) = -1 and f(0.2) = -1.04277. Using the 2-point forward difference formula to calculate an approximated value of f'(0) with h = 0.2, we obtain: f'(0) = -0.21385 f'(0) = -1.802 f'(o) -2.87073 f'(0) = -0.9802

Answers

The approximated value of f'(0) using the 2-point forward difference formula with h = 0.2 is -0.21385. So, first option is the correct answer.

To calculate an approximate value of f'(0) using the 2-point forward difference formula with h = 0.2, we can use the given function values:

f(-0.2) = -0.91736

f(0) = -1

f(0.2) = -1.04277

Using the 2-point forward difference formula, we have:

f'(0) ≈ (f(h) - f(0)) / h

Substituting the values:

f'(0) ≈ (f(0.2) - f(0)) / 0.2

f'(0) ≈ (-1.04277 - (-1)) / 0.2

f'(0) ≈ (-0.04277) / 0.2

f'(0) ≈ -0.21385

Therefore, the approximated value of f'(0) using the 2-point forward difference formula with h = 0.2 is -0.21385. Therefore, the correct answer is first option: f'(0) ≈ -0.21385.

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what is the equation of a line that is parallel to the line 2x 5y = 10 and passes through the point (–5, 1)? check all that apply.
A. y = −x − 1
B. 2x 5y = −5
C. y = −x − 3
D. 2x 5y = −15 y
E. − 1= −(x 5)

Answers

The equation of a line that is parallel to the line 2x - 5y = 10 and passes through the point (-5, 1) is B. 2x - 5y = -5.

To find the equation of a line that is parallel to the line 2x - 5y = 10, we need to determine the slope of the given line first. The equation is in the form of Ax + By = C, where A = 2, B = -5, and C = 10.

To find the slope, we can rearrange the equation into slope-intercept form (y = mx + b), where m represents the slope.

2x - 5y = 10

-5y = -2x + 10

y = (2/5)x - 2

From this equation, we can see that the slope of the given line is 2/5.

A line that is parallel to this line will have the same slope. Therefore, the equation of the parallel line can be determined using the point-slope form (y - y1 = m(x - x1)), where (x1, y1) represents the coordinates of the given point (-5, 1).

Using the slope of 2/5 and the point (-5, 1), we can now check the options to see which ones satisfy the conditions:

A. y = -x - 1: This equation has a slope of -1, not 2/5. It is not parallel to the given line.

B. 2x - 5y = -5: This equation has the same slope of 2/5 and passes through the point (-5, 1). It satisfies the conditions and is parallel to the given line.

C. y = -x - 3: This equation has a slope of -1, not 2/5. It is not parallel to the given line.

D. 2x - 5y = -15y: This equation has a slope of 2/20, which simplifies to 1/10. It is not parallel to the given line.

E. -1 = -(x - 5): This equation does not represent a line. It is not a valid option.

Therefore, the equation of a line that is parallel to the line 2x - 5y = 10 and passes through the point (-5, 1) is B. 2x - 5y = -5.

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use base conversion method, convert the decimal expansion (25679),, to an Octal expansion.

Answers

The decimal number (25679)₁₀ is equivalent to the octal number (62117)₈. The base conversion method, also known as the radix conversion method, is a systematic approach to converting numbers from one base to another.

To convert the decimal expansion (25679)₁₀ to an octal expansion, we can use the base conversion method.

Step 1: Divide the decimal number by 8 and keep track of the remainders.

25679 ÷ 8 = 3209 remainder 7

3209 ÷ 8 = 401 remainder 1

401 ÷ 8 = 50 remainder 1

50 ÷ 8 = 6 remainder 2

6 ÷ 8 = 0 remainder 6

Step 2: The remainders from bottom to top form the octal expansion.

Therefore, (25679)₁₀ = (62117)₈.

Hence, the decimal number (25679)₁₀ is equivalent to the octal number (62117)₈.

The question should be:

Use base conversion method, convert the decimal expansion (25679)₁₀ to an Octal expansion.

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Use inverse matrix to solve the following systems of equations: - 3', 2X, - 4X2 = -3 3X1 +5X2 = 1 9.) 3X1 - 2X2-4 = 0 -4X1 + 3X2 + 5 = 0

Answers

Using the inverse matrix, the solution to the system of equations is X₁ = -7/25 and X₂ = -2/25.

To solve the system of equations using the inverse matrix, we can represent the equations in matrix form as AX = B, where A is the coefficient matrix, X is the variable matrix, and B is the constant matrix.

The system of equations can be written as:

Equation 1: -3X₁ + 2X₂ = -3

Equation 2: 3X₁ + 5X₂ = 1

Equation 3: 3X₁ - 2X₂ = 4

Equation 4: -4X₁ + 3X₂ = -5

Rewriting the equations in matrix form, we have:

[tex]\left[\begin{array}{ccc}-3&2\\3 &5\\3 &-2\\-4 &3\end{array}\right] \left[\begin{array}{ccc}X1\\X2\end{array}\right]=\left[\begin{array}{ccc}-3\\1\\4\\-5\end{array}\right][/tex]

To find the solution, we need to calculate the inverse of the coefficient matrix A. Let's call it A^(-1).

[tex]A^{-1}=\left[\begin{array}{ccc}\frac{-11}{25}&\frac{2}{25}\\\frac{3}{25}&\frac{3}{25}\\\end{array}\right][/tex]

Now, we can solve for X by multiplying A^(-1) with B:

[tex]\left[\begin{array}{ccc}X1\\X2\end{array}\right]=\left[\begin{array}{ccc}\frac{-11}{25}&\frac{2}{25}\\\frac{3}{25}&\frac{3}{25}\\\end{array}\right]\left[\begin{array}{ccc}-3\\1\\4\\-5\end{array}\right][/tex]

Performing the matrix multiplication and Simplifying the results, we have:

X₁ = -7/25

X₂ = -2/25

Therefore, the solution to the system of equations is X₁ = -7/25 and X₂ = -2/25.

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Easy Points! Explain Well!

Answers

Answer:

I am guessing it is 67 as for maybe the whole thing is 180 degrees. So 180 subtracted by 67 and 46 equals 67!!!

67+46+?=180

113+?=180

?=180-113

?=67

HELP NQNSJNDNXJJXnwnfnf

Answers

Answer:

C. 14 is the answer

Step-by-step explanation:

1. Write the question.

17 - 2x = -11

2. Subtract 17 from both sides

-17          -17

    - 2x = -28

3. Negatives cancel

      2x = 28

4. Divide both sides by 2

        /2     /2

        x = 14

5. Check the answer, write the equation.

17 - 2x = -11

6. Substitute x with the value

17 - 2(14) = -11

17 - 28 = -11

-11 = -11

The answer is correct!

So, 14 is the answer

Hope this helped,

Kavitha

The growth of an apple tree was measured. The tree grew 15 inches per year.

On average, how many millimeters did the tree grow per day?

Answers

Answer:

1.04 mill

Step-by-step explanation:

15 inches to mill = 381

[tex]365\sqrt{381}[/tex] = 1.04 ( rounded )

PLEASE HELP
A water park charges an entrance fee of $15 and $3 for each ride. Select the function that models the relationship between the total amount spent (A) and the number of rides purchased (n).
A. A= 15n+ 18
B. A= 15n+3
C. A= 3n+18
D. A=3n+ 15 X​

Answers

Answer:

D. A = 3n + 15

Step-by-step explanation:

3 should be beside the n variable because n represents each ride that was purchased.

As 15 represents the fee

The A variable represents the total amount spent

Therefore your answer is D.

Your Welcome.

Rachel makes $38.25 in 3 hours.
How much money did she make
per hour?
4
HELPPPPP 10 points
I NEED IT NOW

Answers

Answer:

1 hour: $12.75

Step-by-step explanation:

Easy divide 38.25 by 3 which is 12.75

she made $12.75 . just divide 38.25 by 3 !!

Can someone help me in proving theorems in square pleasee ASAP​

Answers

Step-by-step explanation:

[tex]90 = 4x - 6 \\ 96 = 4x \\ x = 24[/tex]

[tex]2x - 8 = \\ = 48 - 8 = \\ = 40[/tex]

If the probability of surviving the zombie apocalypse for 1 year is 20% a. what are the odds of surviving (explain)? (1 pt) b. What are the odds of not surviving (explain)? (1 pt) c. If I bet $25 on you to survive, and you do, how much would you pay based on the odds? (1 pt)

Answers

a) The odds of surviving is 1/4

b) The odds of not surviving is 4.

c) You would receive a payout of $6.25 if you bet $25 on surviving and you successfully survive the zombie apocalypse.

a) The odds of surviving the zombie apocalypse can be calculated by taking the probability of survival (20%) and dividing it by the probability of not surviving

100% - 20% = 80%

So the odds of surviving would be,

20%/80% = 1/4

This means that for every one chance of surviving, there are four chances of not surviving.

b) The odds of not surviving the zombie apocalypse can be calculated by taking the probability of not surviving (80%) and dividing it by the probability of survival (20%).

So the odds of not surviving would be

80%/20% = 4/1

This means that for every four chances of not surviving, there is one chance of surviving.

c) If you bet $25 on surviving and you do survive, based on the odds of 1/4, you would win the bet. The payout can be calculated by multiplying the bet amount by the odds of surviving.

So the payout would be

$25 * 1/4 = $6.25

Therefore, based on the odds, you would receive a payout of $6.25 if you bet $25 on surviving and you successfully survive the zombie apocalypse.

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Find the volume of compostie figure

Answers

Step-by-step explanation:

The first composite shape is a combination of a rectangular prism and a pyramid. To find the volume of the entire shape you find the volume of each individual shape and add them together. The second figure consists of a cylinder and a hemisphere.

Hope that helps :)

What information is needed in order to apply the hypotenuse-leg (HL) theorem

Answers

Answer:

This theorem states that 'if the hypotenuse and one leg of a right triangle are congruent to the hypotenuse and one leg of another right triangle, then the triangles are congruent. ' This is kind of like the SAS, or side-angle-side postulate. But SAS requires you to know two sides and the included angle.

Step-by-step explanation:

Which is NOT an equation?

a
x + 14 = 32

b
3 + x

c
10 – 2x = 10 + 5x

d
12 = 0.5x – 3

Answers

b 3 + x is an expression because it has no =

Answer:

B because it does not contain an = sign

The sheet of metal has dimensions 56 cm by 33 cm. It sis melted down
and recast into discs of the same thickness and radius 7 cm. How many
disces will be cast ?

Answers

Answer:

12

Step-by-step explanation:

To determine the number of discs, divide the area of the metal sheet by the area of the discs

The metal sheets are in the shape of a rectangle, thus the area of a rectangle would be used to determine the area of the sheet

Area of a rectangle = length x breadth

56 x 33 = 1848 cm^2

The disc is in the shape of a circle.

area of a circle = πr²

π = 3.14

r = radius

3.14 x 7² = 153.86 cm²

Number of discs = 1848 /153.86 = 12

Can someone help me with this. Need answer and explanation/work. Thank you. Will Mark brainliest.

Answers

Answer:

The hikers are 5 miles apart.

Step-by-step explanation:

East + West = 3 miles apart (x-axis)

North + South = 4 miles apart (y-axis)

Then use the pythagorean theorem to find the distance between them.

sqrt(distance) = sqrt(3^2+4^2)

distance = sqrt(25)

distance = 5 miles

help with all of u can, I’d appreciate it. Have a good day

Answers

Answer:

a. -12n^3 + 8n^2 - 2n

b. n^4 - n/2

c. 6b^7 + 2b^6 - b^5

Step-by-step explanation:

btw photomath (the app) is really good for this type of stuff

2x + 7 = 15
What does x equal?

Answers

X will equal four because 2x4 is 8 and 8+7 is 15

Tad and his buddies drove to the orange bowl to see their favorite football team win the national championship because of heavy traffic they only avsraged 50 mph however on the return trip they averaged 75 mph if the total round trip took 12 hours how long did it take tad and his buddies to drive to the orange bowl

Answers

Answer:

7.2

Step-by-step explanation:

Answer:

Step-by-step explanation:

Distance "D" = rate × time

or d = r × t.

Tad and his buddies drove to the orange bowl(while going) -50mph

Tad and his buddies while returning from a trip -75mph

Total round trip = 12 hours

Distance while going = 50 x t

Distance while returning = 75 (12 - t)

50t = 75(12 -t)

50t = 900 -75t

50t + 75t = 900

125t = 900

t = 900/125

t= 7.2

The total number of hours it takes Tad and his buddies to drive to the orange bowl is 7.2 hours.

1,3x + 3,9x = 0

Pls someone explain the steps for this. Like how do I find the x1 and x2.

Answers

Answer:

x=0

I used phone math!!!!!!!!

Find the work done by the force field F in moving an object from A to B. F(x y) = 6y3/2 i + 9x x square root y j A{ 1, 1), B(3, 4)

Answers

The integrate is W = 12 ∫[0 to 1] (1 + 3t)^(3/2) dt + 27 ∫[0 to 1] (1 + 2t) √(1 + 3t) dt.

To find the work done by the force field F in moving an object from point A to point B, we can use the line integral of the force field along the path connecting A and B. The line integral is given by the formula:

W = ∫[C] F · dr

where C represents the curve connecting points A and B, F is the force field, dr is the differential displacement vector along the curve, and · denotes the dot product.

First, let's calculate the differential displacement vector dr. Since we are moving from point A(1, 1) to point B(3, 4), the differential displacement vector dr can be expressed as:

dr = dx i + dy j

Now, let's determine the curve C connecting A and B. The curve can be parametrized as follows:

x(t) = 1 + 2t

y(t) = 1 + 3t

where t varies from 0 to 1.

Differentiating these parametric equations, we obtain:

dx = 2 dt

dy = 3 dt

Substituting these values into the differential displacement vector dr, we have:

dr = 2 dt i + 3 dt j

Next, let's calculate the force field F at each point along the curve C. Given that F(x, y) = 6y^(3/2) i + 9x √y j, we can substitute the parametric equations for x and y into F:

F = 6(1 + 3t)^(3/2) i + 9(1 + 2t) √(1 + 3t) j

Now, let's evaluate the line integral by substituting the values of F and dr into the integral expression:

W = ∫[0 to 1] (6(1 + 3t)^(3/2) i + 9(1 + 2t) √(1 + 3t) j) · (2 dt i + 3 dt j)

Expanding the dot product, we have:

W = ∫[0 to 1] (12(1 + 3t)^(3/2) dt + 27(1 + 2t) √(1 + 3t) dt)

Now, we can simplify and integrate each term separately:

W = 12 ∫[0 to 1] (1 + 3t)^(3/2) dt + 27 ∫[0 to 1] (1 + 2t) √(1 + 3t) dt

To evaluate these integrals, we can use appropriate substitution or integration techniques. After integrating both terms, we will have the value of the work done by the force field F in moving the object from A to B along the curve C.

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P and Q are points on the line 4x+2y=8


b) Draw the line 4x+2y=8 for values of x from -2 to 3.

WINNER WILL GET BRAINLIEST
Please help me.


There is no picture but it would be great if you could help me.

Answers

Answer:

[tex]4 \sqrt{2 - 3 = 1[/tex]

Answer:

(-2,8), (-1,6), (0,4), (1,2), (2,0), (3,-2)

Step-by-step explanation:

Insert these points in graph and draw a line. You will get the answer. ^_^

sorry had to edit because of a blunder

what is the probability rule for deciding whether events a and b are independent

Answers

Events A and B are considered independent if and only if the probability of their intersection (P(A ∩ B)) is equal to the product of their individual probabilities (P(A) * P(B)).

Independence: Two events A and B are independent if the occurrence or non-occurrence of one event does not affect the probability of the other event.

Joint Probability: The joint probability P(A ∩ B) represents the probability of both events A and B occurring together.

Multiplication Rule: According to the multiplication rule for independent events, if events A and B are independent, the probability of their intersection is equal to the product of their individual probabilities.

P(A ∩ B) = P(A) * P(B)

Interpretation: If the equation holds true, events A and B are considered independent since the probability of their intersection can be determined solely by multiplying their individual probabilities.

Dependence: If the equation does not hold true, it implies that the occurrence of one event affects the probability of the other event, indicating dependence between the two events.

In summary, the multiplication rule for independent events states that events A and B are independent if and only if P(A ∩ B) = P(A) * P(B).

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How many different ways can you write a fraction that has a numerator of 2 as a sum of fractions? Explain.

Answers

Answer:

Step-by-step explanation:

1/5 + 1/5 = 2/5

1/7 + 1/7 = 2/7

1/3 + 1/3 = 2/3

There are an infinite number of these fractions. They must be 1 and 1 in the numerator, and the denominator must be relatively prime  to 2. The examples I have picked are prime in the denominator, but the rule is not without many exceptions. For example

1/9 + 1/9 = 2/9

I don't think you can pick an even denominator because it will reduce when put with two.  Oh wait 2/18 + 2/18 = 4/18 = 2/9 But these could be reduced before adding. Still, it might count. It depends on who is marking the question.

What about an odd and even denominator?

1/9 + 1/18 = 3/18 = 1/6  There must be something that works, but I can't come up with an example.

SOMEONE PLEASE HELP!!!!!!!!!!!

Answers

Answer:

40

Step-by-step explanation:

This rhombus is divided into 4 triangles. UL= upper left LL= lower left UR= upper right LR= Lower Right

UL: ½bh = ½(5)(4)=10

LL: ½bh = ½(5)(4)=10

UR: ½bh = ½(5)(4)=10

LR: ½bh = ½(5)(4)=10

Add up all the areas of each individual triangle (10+10+10+10 =40) and that's your final answer.

i need help asap.!!!!!

Answers

The answer is for 23-24 is 23 d and for 24 it’s g
Other Questions
Please help here the question Rosalina just started a new job. She has $500 in her bank account. Every week, she deposits $40 into her bank account. A) Write an expression to represent how much Rosalina has in her account at any given time using x to represent the number of weeks.I ALREADY SOLVED A BUT I NEED HELP WITH CB) Rosalina wants to save $700 for the new smart tv write and equation to determine how many weeks (x) it will take for rosalina to have enough money to purchase her new tvC) using your equation from b will rosalina have enough money for her new tv in four weeks?also) how would the equation change if rosalina stopped working wasn't able to deposit $40 and had to instead withdraw $40 a week? Which part of your equation would change?please help!THANK YOU!! PLZ HELPPPPPPP AND EXPLAIN BC I HAVE NO CLUE HOW TO DO THISA.) 500B.) 490C.) 21D.) 390 The depth of a river changes after a heavy rainstorm, Its depth, in feet, is modeled as a function of time, in hours. 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Jack has been concerned about the rapidly changing green regulations in his state and his ability as a mechanical engineer to keep up with developments in his field relating to green requirements. He wants to talk to his boss about taking a professional sabbatical to increase his knowledge of green mechanical engineering practices. How do you predict Jack will try to convince his boss to agree? (Select all that apply.)a. Identify how greater knowledge of green mechanical engineering areas, such as robotics or waste management, could extend the companys service offerings.b. Explain how a better knowledge of integrated mechanical systems could help the company provide more energy-efficient options to customers.c. Describe how a smarter selection of more efficient, forward-thinking equipment could help the companys bottom line.d. Warn that with regulations and green technology changing so fast, the potential for poor implementation and mistakes is large Suppose that a person was aware of some corruption that was occurring in the government agency in which she or he worked. What should a person in this situation do? Would it be plausible to be a whistle-blower? What are the possible implications for reporting the corruption? Is it honest and ethical to engage in whistle-blowing? If this type of corruption was not reported, would ignoring the situation be indicative of honest and ethical behavior on the part of the person who was aware of the situation at hand? Explain Catnet won 2 months try. She son of receiving of 200.000 now, or she cancetto recret20.000 at the end of each of the next 20 y Gabalecanam nostrant which also should she take? it Gabriele este prezenty the present of the 20-year ondewy a found to the rest of Was the prestasie out the presents en la 000000 How to the newest coat) was word to contact the best answer below) GAL payment Artype If a population of 10,000 increases by 5% every year, how large will the population be in 5 years? ______________________________ if the isentropic efficiency of the turbine is 80%, calculate the actual work output of the turbine, in kj/kg. Triply charged uranium-235 and uranium-238 ions are being separated in a mass spectrometer. (The much rarer uranium-235 is used as reactor fuel.) The masses of the ions are 3.901025kg3.901025kg and 3.951025kg,3.951025kg, respectively, and they travel at 3.0105m/s3.0105m/s in a 0.250-T field. What is the separation between their paths when they hit a target after traversing a semicircle? (b) Discuss whether this distance between their paths seems to be big enough to be practical in the separation of uranium-235 from uranium-238. A 66-year-old man has difficulty controlling voluntary movements. He can clearly state what he intends to do, describe how he would do it, and initiate or stop the movement. However, he has poor coordination and often misses his target. If his difficulty arises from a defect in one particular area of the central nervous system, which area is most likely to be involved write the chemical equation for the reaction of monohydrogen phosphate ion, hpo42 , with water. Andrew randomly selects a number from 1-15. What is the probability that the number he selects is an even number?