Answer: The distribution of sample means is:
As the sample size is more than 30 so the sampling distribution of the sample means can be said to be approximately normal with the mean equal to 10.53 hours and standard deviation equals to 0.33 hours.
Explanation:
The mean,
μ=10.53
The population standard deviation,
σ= 2
The sample size, n=36
z score:
z= (xbar −μ)/σ
The standard error:
σxbar=σ/√n
=2/√36
=0.33
The standard error represents the distribution sample mean is 0.33.
Answer:
The answer is <u>A.)</u>while a shortage is a temporary market condition, scarcity is an ongoing condition in the world.
Explanation:
It will not stop in the world no matter what it is a problem ethier way in the world.
Answer:
C) amount a consumer is willing to pay minus the amount the consumer actually pays.
Explanation:
Consumer surplus is a situation in which a consumer is willing to pay more for a product but he/she actually pays less that is he pays a lesser price compared to what he is willing to pay.
For example, a consumer is willing to pay $5 for a magazine but when he got to the mall, the price of the magazine is $4. The consumer surplus will be price he is willing to pay minus the price he bought it.
Consumer surplus= $5-$4
=$1
Consumer surplus is the difference between between the willing price of a consumer and the actual price paid(lesser than the willing price). It is a benefit to the consumer because they pay less than what is expected at the same value of satisfaction.
Consumer surplus is represented on a supply and demand curve by the area between the equilibrium price and the demand curve.
Creates an incentice for farmers to grow more corn
Answer:
If for some reason Costco was to suffer from a lawsuit then it would have no choice but to cut the pay rates of their employees. Also, if there was a depression in the economic that caused a dramatic decrease in the stores profit.
