Suppose That a Worker in Country a Can Make Either

question 99

Multiple Choice

Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year.Country A has 200 workers.Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year.Country B has 400 workers.Two possible consumption bundles that Country A could produce are:

• A) (5,000 bananas, 1,000 tomatoes) and (1,000 bananas, 5,000 tomatoes)
• B) (5,000 bananas, 0 tomatoes) and (2,500 bananas, 500 tomatoes)
• C) (2,500 bananas, 500 tomatoes) and (1,250 bananas, 800 tomatoes)
• D) (2,500 bananas, 750 tomatoes) and (1,250 bananas, 750 tomatoes)

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Definitions:

Confidence Interval

A stretch of values, resulting from sample analytics, projected to envelop the value of a hidden attribute in a population.

Population Proportion

The ratio of members within a subset to the total number of members in a population.

Stratified Random Sampling

A method of sampling that involves dividing a population into smaller groups, known as strata, that share similar characteristics, and then randomly selecting members from each stratum for study.

Chi-Square Distribution

A statistical distribution used in hypothesis testing that is applicable to variables measured on an interval scale, often used to analyze categorical data.