Table 11-2 Consider a Small Town with Only Three Families, the Greene

question 228

Multiple Choice

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 $360 and the families have agreed to split the cost of installing the streetlights equally. To maximize their own surplus, how many streetlights would the Greene's like the town to install?

• A)0 streetlights
• B)1 streetlight
• C)2 streetlights
• D)3 streetlights

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Definitions:

Table Tools Design

A set of specific utilities in spreadsheet and database software used for formatting and designing tables.

Range

The difference between the highest and lowest values in a set, or a set of cells selected in a spreadsheet.

DGET Function

A database function in spreadsheet programs that extracts a single value from a column of a list or database that matches specified conditions.

Numeric Values

Quantities or numbers that are used in calculations and data analysis, essentially another term for numerical data with an emphasis on their value aspect.