Exhibit 13

question 40

Multiple Choice

Exhibit 13.2 A researcher with Ministry of Transportation is commissioned to study the drive times to work (one-way) for U.S.cities.The underlying hypothesis is that average commute times are different across cities.To test the hypothesis,the researcher randomly selects six people from each of the four cities and records their one-way commute times to work.Refer to the below data on one-way commute time (in minutes) to work.Note that the grand mean is 36.625. Refer to Exhibit 13.2.At the 5% significance level,the critical value is:

• A)2.38
• B)3.10
• C)3.86
• D)4.94

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Definitions:

Quasi-Rents

Earnings generated from a leased asset over and above the economic cost of utilizing the asset, often temporary due to market circumstances.

Production Functions

Mathematical equations that describe the relationship between input and output quantities in the production process.

Labor

The investment of human strength and thought in the process of producing goods and services.

Output

The volume of goods or services produced by a human, mechanical, or industrial source.