Determine If the Outcome Is Unusual

question 51

Multiple Choice

Determine if the outcome is unusual. Consider as unusual any result that differs from the mean by more than 2 standard deviations. That is, unusual values are either less than µ - 2? or greater than µ + 2?.
-The Acme Candy Company claims that 60% of the jawbreakers it produces weigh more than .4 ounces. Suppose that 800 jawbreakers are selected at random from the production lines. Would it be unusual for this sample of 800 to contain 423 jawbreakers that weigh more than .4 ounces?

• A) Yes
• B) No

Understand and apply the concept of marginal rate of substitution in the context of consumer choice.

Explain indifference curves and how they represent consumer preferences.

Understand how changes in preferences and income affect consumer utility.

Analyze and calculate the effects of price changes on the budget line and consumer choices.

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Definitions:

Shame

A feeling resulting from the violation of a social norm.

Ethical Subjectivist

The belief that moral judgments are statements of one's feelings or attitudes, and therefore, are neither true nor false.

Right

Morally good, justified, or acceptable; also refers to a legal entitlement or privilege.

Emotional Component

The aspect of a situation, experience, or decision-making process that is related to feelings, emotions, and affective states.