Use the Following to Answer Questions -(Table: Externalities from Parks)Use: Table: Externalities from Parks

question 18

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Externalities from Parks }\\\begin{array} { c c c } \hline \begin{array} { l } \text { Quantity of } \\\text { Land (acres) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Social } \\\text { Benefit }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Social } \\\text { Cost }\end{array} \\\hline 0 & \$ 225 & \$ 0 \\1 & 200 & 50 \\3 & 150 & 150 \\4 & 125 & 200 \\5 & 100 & 250 \\9 & 0 & 450 \\\hline\end{array}\end{array}$$
-(Table: Externalities from Parks) Use: Table: Externalities from Parks.The table shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park.Suppose that parks result in positive benefits to the community as a whole but that the marginal private benefit that any one individual in the community gets from parks is close to 0.If the government wants to achieve the optimum amount of land for the park,it could use a Pigouvian _____ of _____ per park hectare.

• A) tax;$300
• B) tax;$150
• C) subsidy;$150
• D) subsidy;$450

Assess the impact of variations in arrival and service rates on system performance.

Calculate average waiting times in the queue and total time spent in the system.

Understand the concepts of system simulation and its application to process optimization.

Evaluate the effects of changing system parameters on the efficiency and effectiveness of the queuing process.

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Definitions:

SSB

In statistics, SSB stands for the Sum of Squares Between groups, which is used in variance analysis to determine the variance among different groups.

Randomized Block Experiment

An experimental design that groups subjects based on certain characteristics to reduce variation in the response variable, with random assignment within blocks.

Within-Treatments Variation

The variability observed among individuals within the same group or treatment category in an experiment.

F-test

A statistical test used to compare the variances of two populations or to test the hypothesis that multiple population means are equal.