Suppose That a Worker in Country a Can Make Either

question 42

Multiple Choice

Suppose that a worker in Country A can make either 15 cars or 5 computers each year. Country A has 1,000 workers. Suppose a worker in Country B can make either 4 cars or 20 computers each year. Country B has 600 workers. A bundle of goods that Country B could potentially make would be:

• A) (2,400 cars, 12,000 computers).
• B) (2,400 cars, 4,000 computers).
• C) (1,400 cars, 6,000 computers).
• D) (1,200 cars, 6,000 computers).

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Definitions:

Coefficient Of Correlation

A numerical measure that illustrates the magnitude and direction of a relationship between two variables or sets of data.

SSE

Sum of Squared Errors, a measure used in statistics to indicate the difference between the observed and predicted values by a model.

Coefficient Of Correlation

A numerical measure that quantifies the degree to which two variables are correlated, indicating the strength and direction of their relationship.

Coefficient Of Determination

A measure used in statistical analysis that assesses how well a model explains and predicts future outcomes, often denoted as R^2.