-The Table Above Shows Buffy's Utility from Wooden Stakes and Cloves

question 48

Multiple Choice

-The table above shows Buffy's utility from wooden stakes and cloves of garlic.The marginal utility of which clove of garlic is the largest?

• A) the first clove
• B) the second clove
• C) the fifth clove
• D) the third clove
• E) The marginal utility of all cloves is the same.

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Definitions:

Indicator Variables

Binary variables used in regression analysis, taking the value of either 0 or 1 to denote the absence or presence of a categorical effect.

Analysis of Variance

A statistical method used to compare the means of three or more samples to determine if at least one of them is significantly different from the others.

Dummy Variable

A binary variable used in regression analyses to represent categories of a nominal variable.

Slope Coefficient

In linear regression, it represents the expected change in the dependent variable for a one-unit change in the independent variable.