There are 6 different ways:
23,598
23,958
25,398
25,938
29,538
29,358
A producer is said to have an absolute advantage over another producer when he required less amount of input to produce the same good compared to the other producer.
While a producer is said to have a comparative advantage over another producer when he produces his goods at a lesser opportunity cost compared to the other produer.
Here, time is one of the inputs used in production and Maria produces a scarf at a lesser time compared to Sofia. Thus, Maria has an absolute advantage over Maria in the production of scarves.
Therefore, the true statement is "<span>Maria has an absolute advantage over Sofia".</span>
Answer:
t-value = 2.441
Step-by-step explanation:
Let's assume that this is a one-tailed test to calculate the critical value, the process is this:
- Calculate alpha (α): α = 1 - (confidence level / 100)
, but we already have this α=0.01
- Find the critical probability (p*): p* = 1 - α/2 = 1-0.005=0.995
- Then, the critical value would be shown as a t statistic, but for this we need:
degrees of freedom (df)= n-1=35-1=34
- The critical t statistic (t*) or critical value is the t-value having degrees of freedom equal to 34 and a cumulative probability equal to 0.995.
From the attached table we can see:
t-value = 2.441
Improper: multiple the 1 by the denominator 1x7 = 7 then add to numerator number.
Final answer is 10/7
And equivalent fraction could be anything as long as it’s equal to the original.
Possible could be 1 9/21
