The Height of High School Basketball Players Is Known to Be

question 96

Short Answer

The height of high school basketball players is known to be normally distributed with a standard deviation of 1.75 inches. In a random sample of eight high school basketball players, the heights (in inches) are recorded as 75, 82, 68, 74, 78, 70, 77, and 76. Construct a 95% confidence interval on the average height of all high school basketball players.

Distinguish between the phases of economies of scale, constant returns to scale, and diseconomies of scale in the long-run.

Estimate the impact of input adjustment on long-run average total cost within different scales of production.

Assess real-world business decisions related to plant size, scale of operations, and their cost implications.

Explain how specialization within the firm contributes to economies of scale.

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