A Computer Network Manager Wants to Test the Reliability of Some

question 15

Multiple Choice

A computer network manager wants to test the reliability of some new and expensive fiber-optic Ethernet cables that the computer department just received.The computer department received 8 boxes containing 40 cables each.The manager does not have the time to test every cable in each box.The manager will choose one box at random and test 8 cables chosen randomly within that box.What is the population?

• A)The one box of 40 cables chosen at random from the 8 boxes
• B)The entire shipment of 8 boxes
• C)The entire shipment of 320 cables
• D)The 8 cables chosen randomly for testing
• E)The proportion of reliable cables

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from participating in the market.

Utility

Utility refers to the total satisfaction received from consuming a good or service.

Diminishing Utility

The principle that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.

Marginal Utility

The additional satisfaction or benefit obtained from consuming one more unit of a good or service.