Table 3-28 Barb and Jim Run a Business That Sets Up and Up

question 259

Multiple Choice

Table 3-28
Barb and Jim run a business that sets up and tests computers. Assume that Barb and Jim can switch between setting up and testing computers at a constant rate. The following table applies.
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-Refer to Table 3-28. Barb's opportunity cost of setting up one computer is testing

• A)4/5 computer and Jim's opportunity cost of setting up one computer is testing 3/4 computer.
• B)4/5 computer and Jim's opportunity cost of setting up one computer is testing 4/3 computers.
• C)5/4 computers and Jim's opportunity cost of setting up one computer is testing 3/4 computer.
• D)5/4 computers and Jim's opportunity cost of setting up one computer is testing 4/3 computers.

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Definitions:

NORM.DIST

A function in statistics that returns the normal distribution for a specified mean and standard deviation.

Standard Error

The standard deviation of the sampling distribution of a statistic, often used to estimate the precision of a sample mean.

Population Standard Deviation

A measure of the dispersion of a set of data values from their mean, calculated for the entire population.

Sample Size

The number of observations or items selected from a population to constitute a sample for the purpose of statistical analysis.