If It Costs Wilfred the Window Cleaner €9

question 35

Multiple Choice

If it costs Wilfred the window cleaner €9.60 to clean the windows in a house but he is paid €15.00 for doing the job

• A) Wilfred's customer receives consumer surplus of €5.40.
• B) Wilfred's customer receives consumer surplus of €15.00.
• C) Wilfred's receives producer surplus of €5.40.
• D) Wilfred's receives producer surplus of €9.60.

---

Definitions:

Normal

Pertaining to or describing a type of continuous probability distribution for a real-valued random variable that has a symmetrical, bell-shaped curve known as the normal distribution.

Bootstrap Distribution

A resampling method used in statistics to estimate the distribution of a statistic by repeatedly sampling with replacement from the original data.

Resampling Method

A statistical technique involving repeated sampling from a given dataset to assess the variability of a sample statistic.

Bootstrap

A statistical method that resamples a single dataset to create many simulated samples to estimate the distribution of an estimator.