The Following Table Shows the Cost of Producing Different Units

question 9

Multiple Choice

The following table shows the cost of producing different units of ball point pens by a firm. Table 7.1

- Refer to Table 7.1.What is the marginal cost of producing the fourth and the fifth unit?

• A)$4
• B)$6
• C)$8
• D)$2
• E)$10

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Definitions:

T Distribution

A probability distribution used in statistics that arises when estimating the mean of a normally distributed population in situations where the sample size is small and the population standard deviation is unknown.

Sample Size

The number of observations or data points collected in a statistical study.

Preliminary Sample

An initial sample drawn from a population, often used to test procedures or make preliminary estimates before a larger study.

Interval Estimate

An estimate of a population parameter that provides a range of values within which the parameter is expected to lie, often associated with a specific confidence level.