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Table 13-7
A professor dutifully holds six office hours per week as dictated by an archaic policy.Demand for office hours varies wildly as reflected in this historical data.
The duration of time to answer questions varies independently from the actual demand.Question duration is reflected in this table.
Entries in the student demand and question duration tables that reflect a range in demand, i.e., 3-9 students per six hours or 4-9 minutes should be treated as collapsed entries in the table.Thus, a question duration of 4 minutes has a 0.05 probability, a question duration of 5 minutes also has a 0.05 probability, and so on up through 9 minutes and a 0.05 probability.
This table contains random numbers for the number of students and duration of question for a 16-week period.
Use the question duration figure as the time required to answer questions for each student that week, so if three students arrive in week seven and the average duration is ten minutes, the total time spent answering questions that week is thirty minutes.
-What is the number of students that show up in a six-hour period during week 3 according to the information contained in Table 13-7?
Wages
Payments made to employees for their labor or services, typically calculated on an hourly, daily, or piecework basis.
Income Effect
How a shift in income, whether for an individual or an economy, influences the amount of a good or service that is requested.
Leisure
Free time when one is not working or occupied, offering the opportunity for rest, recreation, or other personal activities.
Labor Supply
The total hours that workers are willing and able to work at a given wage rate, reflecting how individuals respond to changes in income or working conditions.
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