Table 11-2
Consider a small town with only three families, the Greene family, the Brown family, and the Black family. The town does not currently have any streetlights so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight. 
-Refer to Table 11-2. Suppose the cost to install each streetlight is $900. How many streetlights should the town install to maximize total surplus from the streetlights?
Definitions:
Path Analysis
A specialized kind of regression analysis used in structural equation modeling to describe the directed dependencies among a set of variables.
Factor Analysis
A technique utilized to identify underlying relationships between measured variables through the analysis of linear combinations.
Regression
A statistical method used to analyze the relationship between a dependent variable and one or more independent variables.
Factor Analysis
A statistical method used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.
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