The Following Data Was Collected from a Simple Random Sample

question 81

Multiple Choice

The following data was collected from a simple random sample of a population. 13 15 14 16 12
The point estimate of the population mean

• A)cannot be determined, since the population size is unknown
• B)is 14
• C)is 4
• D)is 5

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Definitions:

Pollution Fee

A financial charge applied to entities that emit pollutants, intended to discourage environmental pollution by making it economically costly.

Marginal External Cost

The cost imposed on a third party by the production of an additional unit of a good or service.

Production Efficiency

A level of output where a company cannot produce more of one good without reducing the output of another good, utilizing resources optimally.

Pollution Damage

The harmful impact of pollutants on the environment, human health, and the economy.