Use the Following Information to Answer the Question

question 3

Multiple Choice

Use the following information to answer the question. A sprint duathlon consists of a 5 km run, a 20 km bike ride, followed by another 5 km run. The mean finish time of all participants in a recent large duathlon was 1.67 hours with a standard deviation of 0.25 hours. Suppose a random sample of 30 participants in the 40- 44 age group was taken and the mean finishing time was found to be 1.62 hours with a standard deviation of 0.40 hours.
-In this example, the numerical values of 1.62 hours and 0.40 hours are .

• A)estimates
• B)unbiased estimators
• C)statistics
• D)parameters

Comprehend the distinction between microeconomics and macroeconomics topics.

Understand the role and implication of opportunity cost in making economic choices.

Recognize the importance of making choices due to scarce resources and its impact on opportunity cost.

Understand the concept and significance of physical capital in production processes.

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Definitions:

Traditional Marketing

Marketing practices that use traditional channels such as print ads, billboards, television, and radio to communicate with the target audience.

4 Ps

A marketing model that identifies and optimizes the four key components of marketing strategies: Product, Price, Place, and Promotion.

Business Exists

The state or condition of being actively engaged in a trade or enterprise, often marked by the pursuit of profit.

4 Ps

A framework in marketing that categorizes the mix of Product, Price, Place (distribution), and Promotion strategies.