The Travel Time for a College Student Traveling Between Her

question 108

Multiple Choice

The travel time for a college student traveling between her home and her college is uniformly distributed between 40 and 90 minutes. The probability that she will finish her trip in 60 minutes or less is

• A) 0.8.
• B) 0.4.
• C) 0.2.
• D) 1.00.

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Definitions:

Compensating Differences

Wage differentials that arise to compensate workers for the desirability or undesirability of a job, based on factors like risk or location.

Nonmonetary Characteristics

Attributes or factors that influence decisions and behavior that are not related to financial aspects, such as personal preferences or cultural values.

Human Capital

The knowledge and skills that make a person productive.

Productive Skills

Productive skills are those related to the output of work, such as writing and speaking, which enable individuals to produce goods, services, or ideas effectively.