Examlex
The Quality Assurance Department of a large urban hospital is attempting to monitor and evaluate patient satisfaction with hospital services.Prior to discharge,a random sample of patients is asked to fill out a questionnaire to rate such services as medical care,nursing,therapy,laboratory,food,and cleaning.The Quality Assurance Department prepares weekly reports that are presented at the Board of Directors meetings and extraordinary/atypical ratings are easy to flag.True population characteristics estimated from the sample results each week are called
.
Diminishing Marginal Utility
Diminishing Marginal Utility is the principle stating that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.
Pomegranates
A fruit with a tough outer layer that contains sweet-tart arils, which are edible seeds surrounded by juicy pulp.
Bananas
A type of elongated, edible fruit produced by various kinds of large herbaceous flowering plants in the genus Musa.
Principle Of Diminishing Marginal Utility
The proposition that each successive unit of a good or service consumed adds less to total utility than did the previous unit.
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