Scenario: a Machine That Can Be Used to Print Both

question 162

Multiple Choice

Scenario: A machine that can be used to print both notebooks and magazines is available for use for a fixed period of time. If it is used only to print notebooks, 30 notebooks can be printed. If it is used only to print magazines, 15 magazines can be printed.
-Refer to the scenario above.What is the opportunity cost of printing 1 notebook?

• A) 0.5 magazines
• B) 1 magazine
• C) 2 magazines
• D) 30 magazines

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Definitions:

Chi-squared Distribution

A probability distribution that arises in statistics from the sum of squared independent standard normal variates and is used in significance testing.

Proportions

Statistical measures that indicate the relative size of one part compared to another part or to the whole.

One-tail Test

A statistical test that determines the significance of one end (tail) of the data distribution, often used to test a directional hypothesis.

Population Proportion

The fraction or percentage of the population that shares a particular characteristic or attribute.