The existing entries in the following table show the maximum quantities of milk shakes or fruit smoothies the college president and dining hall staffer could make during an afternoon shift,given a fixed amount of resources.
a.Fill in the remaining part of the table (be sure to label the units) and answer the questions below.
b.Who has a comparative advantage in producing smoothies?
c.Who has an absolute advantage in producing milk shakes?
Definitions:
Independent
A condition where the occurrence or value of one variable does not affect or is not associated with another.
Mutually Exclusive
A statistical term describing events that cannot occur simultaneously; the occurrence of one event excludes the possibility of the other.
Events
Occurrences or happenings, often of significance and usually discrete, that can be observed and recorded.
Continuous Random Variable
A type of random variable that can take an infinite number of values within a given range.
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