Answer:
E) Choco Dream faces increasing marginal opportunity cost in the production of liquor chocolates.
Step-by-step explanation:
When Choco Dream increased their production of liquor chocolates by 500 units (to 4,500 bars per month), their opportunity was 800 units of dark chocolate. But when they needed to increase liquor chocolates by 500 more units (to 5,000 bars per month), then the opportunity cost increased to 1,000 units of dark chocolate.
That means that for the first 500 extra liquor bars, the opportunity cost = 800 dark chocolate bars / 500 liquor bars = 1.6 dark chocolate bars for every extra liquor bar.
The second increased required a higher opportunity cost = 1,000 dark chocolate bars / 500 liquor bars = 2 dark chocolate bars for every extra liquor bar.
Answer:
b) 2.7632
Step-by-step explanation:
To find the mean, we multiply each value by it's probability. So

So the correct answer is:
b) 2.7632
The answer is (2, 7), because the midpoint is the point where the 2 end points are equidistant from each other
Answer:
Step-by-step explanation:
We would set up the hypothesis test. This is a test of a single population mean since we are dealing with mean
For the null hypothesis,
H0: µ = 5000
For the alternative hypothesis,
H1: µ > 5000
Since the population standard deviation is given, z score would be determined from the normal distribution table. The formula is
z = (x - µ)/(σ/√n)
Where
x = sample mean
µ = population mean
σ = population standard deviation
n = number of samples
From the information given,
µ = 5000
x = 5430
σ = 600
n = 40
z = (5430 - 5000)/(600/√40) = 4.53
Looking at the normal distribution table, the probability corresponding to the z score is < 0.0001
Since alpha, 0.05 > than the p value, then we would reject the null hypothesis. Therefore, at a 5% level of significance, it can be concluded that they walked more than the mean number of 5000 steps per day.