Hans Can Do 4 Loads of Laundry and Type 6

question 51

Multiple Choice

Hans can do 4 loads of laundry and type 6 pages per hour. Heidi can do 12 loads of laundry and type 8 pages per hour. Hans's opportunity cost of typing one page is:

• A) equal to 12 loads of laundry.
• B) equal to 8 loads of laundry.
• C) equal to 3/2 of a load of laundry.
• D) equal to 2/3 of a load of laundry.
• E) impossible to compute without additional information.

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Definitions:

Coefficient Of Determination

A measure, usually represented as R^2, that shows the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Variance

A measurement of the spread between numbers in a data set, signaling how far each number in the set is from the mean.

MSE

Mean Squared Error, a measure of the average squared differences between the estimated values and the actual value, indicating the quality of an estimator.

SSE

Sum of Squares due to Error, a measure used in statistical analysis to quantify the discrepancy between the observed and predicted data values.