Solve the Problem. -The Batting Percentages of Some of the Players on the Players

question 371

Multiple Choice

Solve the problem.
-The batting percentages of some of the players on the company softball team are .248, .287, .237, . 294, .225, .324, and .286. What is the average batting percentage of these players? Round to the
Nearest thousandth.

• A).247
• B).285
• C).317
• D).272

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Definitions:

Decreasing Marginal

In economics, a situation where each additional unit of input results in a smaller increase in output compared to previous units.

Increasing Returns

A situation in production where an increase in the amount of inputs results in a disproportionately larger increase in output.

Production Isoquant

A curve that represents all combinations of inputs that produce the same level of output, used in the analysis of production technology.

Marginal Products

The additional output that is produced by using one more unit of a particular input, holding other inputs constant, critical in the analysis of production efficiency.