Table 13-8
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​ -Refer to Table 13-8

question 103

Multiple Choice

Table 13-8
​
​
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Output } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Fixed Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Variable Cost } \\\text { (Dollars) }\end{array} \\\hline 0 & 20 & 0 \\\hline 1 & 20 & 10 \\\hline 2 & 20 & 40 \\\hline 3 & 20 & 80 \\\hline 4 & 20 & 130 \\\hline 5 & 20 & 200 \\\hline 6 & 20 & 300 \\\hline\end{array}$$
-Refer to Table 13-8. What is the average fixed cost of producing 5 units of output?

• A)$4
• B)$5
• C)$40
• D)$44

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Definitions:

Population Size

The total number of individuals or items in the group that is being studied in a statistical analysis.

Normal Population

A statistical term referring to a population that follows a normal distribution where a large number of instances are clustered around the mean.

Probability Distribution

This mathematical method determines the chances of various results happening in an experiment.

Sample Mean

The average value of a sample, calculated by summing all observations and dividing by the number of observations.