Refer to the Table Shown A)The 5th Worker
B)The 6th Worker
C)The 7th Worker
D)The

question 74

Multiple Choice

Refer to the table shown. Marginal product declines when which worker is hired?

$\begin{array}{|c|c|}\hline \text { Number of workers } & \text { Marginal product of workers } \\\hline 1 & 2 \\\hline 2 & 5 \\\hline 3 & 9 \\\hline 4 & 14 \\\hline 5 & 16 \\\hline 6 & 17 \\\hline 7 & 18 \\\hline 8 & 18 \\\hline 9 & 17 \\\hline 10 & 15 \\\hline\end{array}$

• A)The 5th worker
• B)The 6th worker
• C)The 7th worker
• D)The 9th worker

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Definitions:

Population standard deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence interval

A range of values, derived from the sample statistics, that is likely to contain the value of an unknown population parameter.

Confidence interval

An estimated range of values calculated from sample data that is likely to include the true population parameter with a specified level of confidence.

Average hourly income

The average amount of money earned by an individual or group per hour worked.