Suppose That a Typical German Factory Can Produce 20 Cameras

question 163

Multiple Choice

Suppose that a typical German factory can produce 20 cameras or 1 computer in an hour, and that a typical American factory can produce 10 cameras or 1 computer in an hour. The opportunity cost of 20 cameras in terms of computers in Germany is

• A) 10 computers per camera.
• B) 2 computers per camera.
• C) 1 computer per camera.
• D) 1/20 of a computer per camera.

---

Definitions:

Sampling Distribution

The probability distribution of a statistic based on all possible samples of a fixed size from a certain population.

Sampling Distribution

The distribution of a statistic obtained by selecting all possible samples of a specific size from a population.

Mean

The mean of a collection of numbers, determined by dividing the total sum of the values by the count of the values.

Population

The entire collection of individuals or items considered for a study, from which samples are drawn for statistical analysis.