Kristi and Rebecca Sell Lemonade on the Corner

question 54

Multiple Choice

Kristi and Rebecca sell lemonade on the corner.It costs them 7 cents to make each cup.On a certain day,they sell 40 cups.Their producer surplus for that day amounts to $19.20.Kristi & Rebecca sold each cup for

• A)31 cents.
• B)38 cents.
• C)45 cents.
• D)55 cents.

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Definitions:

Law of Large Numbers

A statistical principle that states that as a sample size grows, its mean gets closer to the average of the whole population.

Blood Type

A method of classifying blood by examining the presence or lack of certain inherited antigenic substances on red blood cell exteriors.

Joint Frequency Distribution

A statistical representation showing the frequency of occurrences for combinations of two or more categories or variables.

Blood Type B

A blood group classification determined by the presence of antigen B on the surface of red blood cells.