Opportunity cost is relevant in this situation. Your opportunity basically consists of the full amount of your college expenses plus the money you would've made when you have chosen to work instead of enrolling in school. <u>The opportunity cost of attending college is $260,000.</u>
The potential benefits that even a person, investor, or business forgo while choosing between two possibilities are known as opportunity costs. Opportunity costs can be easily disregarded since they are by nature invisible.
The opportunity cost would be the worth of what you forgo while making a decision among two or more choices. It's a basic principle that applies to both investing and daily life. The opportunity cost in investing would be the amount of cash you can lose by choosing one asset above another.
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Assuming the riding position pertains to biking, the best position for the elbows is bending them. In doing so, you would relieve some pressure on your elbows, wrists and hands. This could also help you absorb shock when passing over bumpy roads through your arms.
Answer:
I used the function 1-proportion z-interval on the calculator, where I inputted
- Successes(x) = 64
- Sample size(n) = 593
- Confidence Level(C level) = 0.99
It would result in zInterval_1Prop 64,593,0.99: stat.results, where the values are shown below as:
- Lower bound (CLower) = 0.075105
- Upper bound (CUpper) = 0.140747
- test statistic (p^) = 0.107926
- Margin of error (ME) = 0.032821
Therefore, the 99% confidence interval would be around 0.11 ± 0.03 or range from 0.08 to 0.14.
<em><u>Note: not sure if this is correct</u></em><em> O_o</em>
