Use the Table Below to Answer the Following Questions

question 9

Multiple Choice

Use the table below to answer the following questions.
Table 11.3.2

-Refer to Table 11.3.2, which gives Tania's total cost schedule. When output increases from 8 to 12 teapots, the marginal cost of one of the 4 teapots is

• A)$20.
• B)$5.
• C)$1.
• D)$6.67.
• E)$2.

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Definitions:

Probability

The quantification of the chance of an event happening, represented as a numerical value ranging from 0 to 1.

Test Statistic

A standardized value that is calculated from sample data during a hypothesis test. It is used to determine whether to reject the null hypothesis.

Null Hypotheses

A statement that assumes there is no significant difference or effect in a population, and any observed difference is due to sampling or experimental error.

p-value

A measure used in statistical hypothesis testing to determine the significance of the observed data under a specific hypothesis, often testing if an effect exists.