On Average a Person Sleeps 6 Hours a Day with a Standard

question 40

Multiple Choice

On average a person sleeps 6 hours a day with a standard deviation of 1 hour.John says he sleeps 10 hours a day.What is his standard score?

• A)5.5
• B)4.5
• C)2.5
• D)None of these

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Definitions:

Economic Profit

The gap between the complete income and all expenses, covering overt and hidden costs.

Minimum Wage

A price floor set for the price of labor.

Cost Curves

Graphs that depict the relationship between the cost of producing goods and the quantity produced.

TR

Total Revenue, the total income received by a firm from sales before any expenses are subtracted.