Table 12-5 Consider the Table Above Showing Three Stages of Production of \text

question 201

Multiple Choice

Table 12-5
$\begin{array}{|c|c|c|c|}\hline \text { Stage of Production } & \text { Seller } & \text { Buyer } & \text { Price } \\\hline 1 & \text { Steelmill } & \text { Auto manufacturer } & \$ 10,000 \\\hline 2 & \text { Auto manufacturer } & \text { Auto dealer } & 18,000 \\\hline 3 & \text { Auto dealer } & \text { Consumer } & 25,000 \\\hline\end{array}$ Consider the table above showing three stages of production of an automobile.
-Refer to Table 12-5.The value added by the automobile dealer equals

• A) $7,000.
• B) $15,000.
• C) $18,000.
• D) $25,000.

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Definitions:

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable about its mean.

Simple Random Sample

A selection from a larger population where every member has an identical chance of being picked.

T Procedures

Statistical methods based on the t-distribution, used for hypothesis testing and confidence interval estimation, mainly when sample sizes are small.

Sample Size

The number of observations or data points collected in a sample from a larger population, used in statistical analysis.