If a Company's Total Costs Per Day Increase from $200

question 53

True/False

If a company's total costs per day increase from $200 to $400 by adding another worker, but its additional benefits are $300, it is sensible to add that additional worker.

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Definitions:

Standard Normal Distribution

A normal distribution with a mean of 0 and a standard deviation of 1, used in z-score calculations to determine probabilities.

Normal Distribution

A statistical distribution which is evenly spread around the mean, indicating that occurrences close to the mean are more common than those further away.

Frequency Distributions

Showcases how often each different value in a set of data occurs.

Normal Distributions

A distribution that resembles the shape of a bell, symmetrically centered around the average, indicating that values close to the mean are more commonly observed than those further away from the mean.