Among the People Who Are Characterized Below, Who Has the Highest

question 434

Multiple Choice

Among the people who are characterized below, who has the highest opportunity cost of leisure?

• A)an attorney who earns $200 per hour and who plays golf during her leisure time
• B)a medical doctor who earns $210 per hour and who sleeps during his leisure time
• C)a retail clerk who earns $15 per hour and who watches TV during her leisure time
• D)a waiter who earns $12 per hour and who reads poetry during his leisure time

---

Definitions:

Regression Line

A line that best represents the connection between data points on a scatter plot.

Slope

Mathematically, the rate of change or gradient of a line, representing the ratio of the vertical change to the horizontal change between two points on the line.

Regression Analysis

A statistical method for examining the relationship between a dependent variable and one or more independent variables.

Statistical Models

Representations of complex systems through mathematical formulas and algorithms based on statistical principles.