At the US Open Tennis Championship a Statistician Keeps Track of Every

question 35

Multiple Choice

At the U.S. Open Tennis Championship a statistician keeps track of every serve that a player hits during the tournament. The statistician reported that the mean serve speed of a particular player was 100 miles per hour (mph) and the standard deviation of the serve speeds was 8 mph. Using the z-score approach for detecting outliers, which of the following serve speeds would represent outliers in the distribution of the player's serve speeds?

Speeds: 72 mph, 108 mph, and 116 mph

• A) 72, 108, and 116 are all outliers.
• B) None of the three speeds is an outlier.
• C) 72 is the only outlier.
• D) 72 and 108 are both outliers, but 116 is not.

Assess the role of marginal revenue and marginal cost in determining profit-maximizing output levels.

Understand the conditions leading to long-run equilibrium in monopolistically competitive markets.

Distinguish among short-run profits, losses, and break-even points for firms in different market conditions.

Recognize changes in productive capacity and the introduction of new products as factors affecting monopolistic competition.