Hank Requires 1 Hour to Cut the Grass and 3

question 61

Multiple Choice

Hank requires 1 hour to cut the grass and 3 hours to clean the house.His sister Holly requires 1 hour to cut the grass and 4 hours to clean the house.Which of the following statements is true?

• A) Hank has a comparative advantage in both cutting the grass and cleaning the house.
• B) Hank and Holly both have a comparative advantage in cutting the grass.
• C) Hank has a lower opportunity cost of cutting the grass.
• D) Hank has an absolute advantage in both cutting the grass and cleaning the house.
• E) Holly has a comparative advantage in cutting the grass.

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Definitions:

Confidence Interval

A variety of values taken from sample data, expected to encompass the value of a not yet known population attribute.

Standard Error

A common measure of variability within a sample's distribution, particularly focused on the mean.

Confidence Interval

A range of values, derived from a set of sample data, that is likely to contain the value of an unknown population parameter.

Mean

The arithmetic average of a set of numbers, calculated by adding all the numbers together and dividing by the count of the numbers.