It Is Claimed That in a Bushel of Peaches,fewer Than

question 18

Multiple Choice

It is claimed that in a bushel of peaches,fewer than 10% are defective. A sample of 400 peaches is examined and 50 are found to be defective. What is the z-test statistic?

• A)+0.125
• B)+0.278
• C)−1.645
• D)+1.667

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Definitions:

Marginal Product

The extra production obtained by employing an additional unit of a variable resource, while keeping the rest of the inputs unchanged.

Fixed Cost

Expenses that do not change in the short term regardless of the level of production or output.

Average Fixed Cost

The fixed costs of production (costs that don't change with the level of output) divided by the quantity of output produced.

Marginal Product

The additional output resulting from a one-unit increase in the input of a particular productive resource, holding all other inputs constant.