Examlex
An understanding of bird's choices of habitat is a crucial element in understanding avian biology and ecology. One aspect of habitat choice is the pattern of their preferred vertical height when feeding in forests. In a study of small birds in an old-growth forest in the Pacific Northwest, researchers (suspended from a giant crane!) observed the landings of Golden-crowned kinglets (Regulus strapa). They found that 78 of the 163 landings were in the "mid" height region, 21-40 meters above ground.
a) Compute a point estimate of the population proportion of all landings of these kinglets that are in the 21 - 40 meter height range.
b) Construct and interpret a 95% confidence interval for π, the population proportion of all landings of these kinglets that are in the 21 - 40 meter height range.
Marginal Cost
Marginal Cost is the cost incurred by producing one additional unit of a product or service.
Labor Costs
Expenses associated with employing labor, including wages, salaries, benefits, and taxes.
Average Total Cost
The total cost of production divided by the total output or quantity produced.
Average Variable Cost
Calculated by dividing the total variable costs by the quantity of output produced; it shows the variable cost per unit of output.
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