Use the Following Information to Answer Questions (1) - (4)

question 49

Essay

Use the following information to answer questions (1) - (4). A sprint duathlon consists of a 5 km run, a 20 km
bike ride, followed by another 5 km run. The mean finish time of all male participants in a recent large duathlon
was 1.54 hours with a standard deviation of 0.22 hours. The distribution of finish times for males is right-skewed.
Suppose that a sample of 30 randomly selected male participants is selected.
-Calculate the standard error for the mean finish time of 30 randomly selected male participants. Show all your work and round to the nearest thousandth.

---

Definitions:

Long-Run Average Total Cost Curve

A graphical representation showing the relationship between output and average total cost when fixed cost has been chosen to minimize average total cost for each level of output.

Minimum

The lowest allowable or possible amount, level, or point.

Marginal Cost

The amount needed to generate one more unit of a good or service.

Average Total Cost

The overall expense of manufacturing, when dispersed across the number of products made, encompassing both constant and fluctuating expenses.