Consider the Following to Answer the Question(s) Below

question 4

Multiple Choice

Consider the following to answer the question(s) below:
An airline has found that its flights between Toronto and Vancouver can take anywhere from 4.5 - 7.5 hours, with any time between this range being equally likely.
-What is the standard deviation?

• A) 0.75 hours
• B) 0.87 hours
• C) 6 hours
• D) 0.33 hours
• E) The standard deviation cannot be determined.

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Definitions:

Acquired Comparative Advantage

An economic concept where a country becomes more efficient at producing certain goods or services due to factors other than its natural endowments, such as technology or quality of education.

Automobiles

Vehicles designed for transporting passengers on roads.

Japanese Companies

Businesses or corporations based in Japan, often known for their management practices and technological advancements.

Factor Endowments

The quantity and quality of labor, land, and capital that a country possesses, which determine its potential for producing goods and services.