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Twenty-eight applicants interested in working for the Food Stamp program took an examination designed to measure their aptitude for social work. A stem-and-leaf plot of the 28 scores appears below, where the first column is the count per "branch," the second column is the stem value, and the remaining digits are the leaves.
a. Should the Empirical Rule be applied to this data set?
______________
b. Use the range approximation to determine an approximate value for the standard deviation.
______________
Is this a good approximation?
______________
Isoquant Slope
Represents the rate at which one input can be substituted for another input while keeping the level of production constant, in the study of production theory.
Production Function
A mathematical model that describes the relationship between inputs (like labor and capital) and the maximum output that can be produced with those inputs.
Input
Resources used in the production process to create goods or services.
Inputs
Resources such as labor, materials, and capital used in the process of production.
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