Monthly Output at Leisure-Time,Inc

question 20

Multiple Choice

Monthly output at Leisure-Time,Inc.changed from 12 to 13 prefabricated gazebos,and the total costs changed from $9,000 to $10,500.What is the marginal cost for this company?

• A) $1,500
• B) $2,000
• C) $1,200
• D) $10,000
• E) $12,000

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Definitions:

P-chart

A P-chart is a type of control chart used in quality control to monitor the proportion of defective items in a process over time.

Control Limits

Statistical boundaries set on process control charts that indicate the acceptable range of process variation.

Standard Deviation

A measure of the dispersion or spread of a set of data points from its mean, indicating how much variation exists from the average.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in a dataset deviate from the mean.