Suppose the Line You Are Standing in at a Grocery

question 62

Multiple Choice

Suppose the line you are standing in at a grocery checkout counter has not moved for 10 minutes. You notice a cashier opening a new one and inviting you to check out. Do you switch to the new cashier or stay put because you have already waited for 10 minutes?

• A) stay, because you have already waited for 10 minutes
• B) decide to wait for another 5 minutes in case your line speeds up
• C) walk out of the store without buying anything because of the wait times
• D) be patient and read a magazine while you are waiting
• E) switch, because the 10 minutes you waited is a sunk cost

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Definitions:

Sample Mean

The average value of a set of numbers, calculated by summing them all up and then dividing by the count of these numbers.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution, typically via the mean, median, or mode.

Inferential Statistics

The field of statistics focused on drawing conclusions or making forecasts about a whole population from a subset of collected data.

Probability

An indicator of how probable an event is, represented numerically between 0 and 1.