Exhibit 19-4 -In Exhibit 19-4,the World Price of a Baseball Is $3.With

question 11

Multiple Choice

Exhibit 19-4

-In Exhibit 19-4,the world price of a baseball is $3.With free trade,how many baseballs will the United States import?

• A) 4,000
• B) 6,000
• C) 8,000
• D) 10,000
• E) 12,000

---

Definitions:

Standard Normal Distribution

A type of normal distribution where the mean is 0 and the standard deviation is 1.

Mean

The arithmetic average of a set of numbers, calculated by adding up all the values and dividing by the count of numbers.

Variance

A statistical measure that determines the spread of numbers in a data set by calculating the mean of the squared differences from the mean.

Standard Normal

A normal distribution with a mean of zero and a standard deviation of one, commonly used in statistical analysis.