A Carpenter Makes and Sells a Custom Wooden Chest Armoire

question 103

Multiple Choice

A carpenter makes and sells a custom wooden chest armoire for $7,000.It took him 20 hours and the materials cost $2,000.The carpenter values his time as $100 per hour.What is the firm's productivity?

• A) 0.57
• B) 1.0
• C) 1.75
• D) 3.5

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Definitions:

F-Test

A statistical test used to compare the variances of two populations to see if they are significantly different.

Breaking Strength

The maximum amount of stress or force a material can withstand before it breaks or fails.

Mean Breaking Strength

The average force required to break a material or object under tension tests.

Test Statistic

A numerical value computed from sample data to evaluate a hypothesis in statistical analysis.