The Table Below Shows the Prices in Canada of One

question 71

Multiple Choice

The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries.Assume that all cheddar cheese is identical.
TABLE 33-1
-Refer to Table 33-1.If Canada has a 40% tariff in place on the import of cheddar cheese,the price per kilogram of cheese from Canada,United Kingdom and United States respectively,is

• A)$10,$12.60 and $11.20.
• B)$10,$9.00 and $8.00.
• C)$14,$12.60 and $11.20.
• D)$14,$9.00 and $8.00.
• E)$10,$10 and $10.

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Definitions:

Sample Size

This term refers to the number of observations or replicates used in a statistical analysis.

Central Limit Theorem

A statistical theory stating that the distribution of sample means approximates a normal distribution as the sample size becomes large, regardless of the population's distribution.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, essential in estimating the sampling variability.

Sample Mean

The average value of a sample, used as an estimate of the population mean.