Use the Frequency Distribution to Find the Mean and the Sample

question 188

Multiple Choice

Use the frequency distribution to find the mean and the sample standard deviation. Does the data form a normal distribution? Remember: if the data fall within 2% of the empirical rule of 68%, 95%, and 99.7% for one, two, or three standard deviations, respectively, they form a normal distribution.   $\begin{array}{|ll|}\hline \text { Life of bulb (hours) } & \text { Frequency t} \\\hline 0-999 . 5 & 103 \\999.5-1,999.5 & 476 \\1,999.5-2,999.5 & 2,062 \\2,999.5-3,999.5 & 4,129 \\3,999.5-4,999.5 & 2,460 \\4,999.5-5,999.5 & 421 \\5,999.5-6,999.5 & 146 \\\hline\end{array}$

• A) The mean is 3,546 hours. The sample standard deviation is 1,018 hours. The data forms a normal distribution.
• B) The mean is 3,523 hours. The sample standard deviation is 1,017 hours. The data forms a normal distribution.
• C) The mean is 3,546 hours. The sample standard deviation is 1,018 hours. The data doesn't form a normal distribution.
• D) The mean is 3,542 hours. The sample standard deviation is 1,027 hours. The data forms a normal distribution.
• E) The mean is 3,523 hours. The sample standard deviation is 1,017 hours. The data doesn't form a normal distribution.

Identify and describe the condition where a monopolist is producing at a point where price equals average total cost (ATC) and its implications.

Analyze profit maximization strategies and outcomes using diagrams and data.

Distinguish between marginal revenue (MR) and marginal cost (MC) and their implications for monopolist’s output and pricing decisions.

Explain the significance of the equality between marginal cost (MC) and marginal revenue (MR) for profit maximization in both monopoly and perfect competition.

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Definitions:

Direct Democracy

A form of democracy in which people vote on policy initiatives directly, without intermediaries or representatives.

Totalitarian

A system of government where the state holds total control over the society and seeks to control all aspects of public and private life.

Authoritarian

A governing system characterized by strong central power and limited political freedoms, where individual rights are often subordinate to the state's authority.

Sovereign Request

A formal petition or demand made by a sovereign state or its representative, often pertaining to diplomatic or legal issues.