Solve the Problem $$\left\{ \begin{array} { c } 3 x + y = 14 \\12 x + 4 y = 56\end{array} \right.$$

question 109

Multiple Choice

Solve the problem.
- $$\left\{ \begin{array} { c } 3 x + y = 14 \\12 x + 4 y = 56\end{array} \right.$$

• A) no solution; \(\varnothing\)
• B) \(\{ ( 0,14 ) \}\)
• C) \(\{ ( 5 , - 1 ) \}\)
• D) infinitely many solutions; \(\{ ( x , y ) \mid 3 x + y = 14 \}\) or \(\{ ( x , y ) \mid 12 x + 4 y = 56 \}\)

Discern the practical implications of ANOVA findings in real-world contexts.

Identify possible outcomes in decision-making problems and understand the consequences of different decisions.

Calculate and understand the concept of opportunity loss.

Understand how to use the Expected Opportunity Loss (EOL) for making optimal decisions.

---

Definitions:

Utility

A measure of satisfaction, usefulness or pleasure a consumer obtains from consuming a good or service.

Redistribution of Income

A policy or practice by which income is redistributed from wealthier segments of society to poorer ones through mechanisms like taxation and government spending.

Income Distribution

The way in which a nation’s total income is spread among its population, often analyzed to understand the extent of economic inequality.

Incentives to Produce

Factors or motivations that encourage firms or individuals to increase the production of goods or services.