Use the Following Scenario to Answer Thefollowing Questions

question 142

Multiple Choice

Use the following scenario to answer thefollowing questions:
An economy has two workers,Smith and Ricardo.Each day they work,Smith can produce 4 computers or 16 smartphones,and Ricardo can produce 6 computers or 12 smartphones.
-The opportunity cost for Smith to produce one smartphone is ________ computer(s) .

• A) one-quarter of a
• B) one-half of a
• C) one
• D) two
• E) four

---

Definitions:

Obtained Value

The value that results from the application of a statistical test.

Fisher's Exact Test

A statistical significance test used for small sample sizes, analyzing the association between two categorical variables.

2 × 2 Table

A contingency table with two rows and two columns used to display the frequency distribution of variables' combinations.

Significance Level

The threshold below which a p-value is considered strong enough to reject the null hypothesis in statistical testing.