Table 1-2 Thuy Anh Runs a Small Flower Shop in the Town

question 191

Multiple Choice

Table 1-2

Thuy Anh runs a small flower shop in the town of Florabunda. She is debating whether she should extend her hours of operation. Thuy Anh figures that her sales revenue will depend on the number of extra hours the flower shop is open as shown in the table above. She would have to hire a worker for those extra hours at a wage rate of $16 per hour.
-Refer to Table 1-2.What is Thuy Anh's marginal benefit if she decides to stay open for an extra three hours instead of two hours?

• A)$0
• B)$20
• C)$25
• D)$45
• E)$70

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Definitions:

Normal Distributions

A type of continuous probability distribution for a real-valued random variable that is symmetric and describes data that cluster around a mean.

Matched Pairs

An experimental design where each subject is paired with another subject that has similar characteristics, but one receives the treatment and the other does not.

Pooled Variance

A method to estimate the variance of two or more populations that assumes the populations have the same variance but different means.

Test Statistic

A value calculated from sample data during a hypothesis test that is used to determine the probability of observing the sampled data under the null hypothesis.