Adam Earns $25,000 a Year and Bob Earns $45,000 a Year

question 99

Multiple Choice

Adam earns $25,000 a year and Bob earns $45,000 a year, and they both have the same marginal benefit curve. According to the utilitarian view, if a dollar is transferred from Bob to Adam, then

• A)the change in Adam's marginal benefit plus the change in Bob's marginal benefit equals zero.
• B)Adam's marginal benefit decreases by more than bob's marginal benefit increases.
• C)Adam's marginal benefit increases by more than Bob's marginal benefit decreases.
• D)the change in Adam's marginal benefit plus the change in Bob's marginal benefit is negative.
• E)Bob's marginal benefit increases because he is being kind to Adam.

Use Tchebysheff's Theorem for any shaped distribution to estimate the proportion of observations within a certain number of standard deviations from the mean.

Determine the shape of a distribution based on the relationship between mean, median, and mode.

Apply the concept of skewness to real-life data interpretation.

Interpret and calculate intervals within a distribution using standard deviation as a measure of spread.

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