The Owner of a Fish Market Has an Assistant Who

question 142

Multiple Choice

The owner of a fish market has an assistant who has determined that the weights of catfish are normally distributed, with mean of 3.2 pounds and standard deviation of 0.8 pound. If a sample of 25 fish yields a mean of 3.6 pounds, what is the Z-score for this observation?

• A) 18.750
• B) 1.875
• C) 0.750
• D) 2.500

Determine the optimal consumption bundle and its placement relative to the budget constraint.

Apply utility theory to specific examples involving the allocation of a fixed budget across different goods.

Discern the role of utility in making optimal consumption decisions under budget constraints.

Understand the theory and application of exposure therapy.

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Definitions:

Undue Influence

Pressure from a dominant, trusted person that makes it impossible for a party to bargain the terms of a contract freely.

Negotiable Instruments

Substitutes for money that bestow unique benefits; vehicles for conveniently transferring funds or advancing credit.

Bills of Exchange Act

Legislation that regulates the creation and the use of bills of exchange, a type of negotiable instrument.

Holder in Due Course

A legal term describing someone who has obtained a negotiable instrument in good faith and for value, thus having certain protections.