Which of the Following Countries Had the Highest Manufacturing Labor

question 14

Multiple Choice

Which of the following countries had the highest manufacturing labor wage rates in 2015?

• A)United States
• B)South Korea
• C)India
• D)China
• E)Norway

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Definitions:

Expected Value

Expected value is a statistical concept that calculates the average outcome of a random event when considering all possible outcomes and their probabilities.

Probabilities

A measure of the likelihood that an event will occur, expressed on a scale from 0 (impossible) to 1 (certain).

Invest

Distributing financial resources with the aim of achieving financial gain or income.

Probability

A measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.