<h3>
Answers: Choice B and Choice C</h3>
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Explanation:
The symbol
or mu represents the population mean, which is a parameter.
The symbol
or sigma represents the population standard deviation, which is also a parameter. The same goes for the symbol p, without any hat on top, as it is the population proportion.
If something represents a population data item, then it's automatically a parameter. It might help to think both words "population" and "parameter" start with the letter P.
Based on those previous paragraphs, we can rule out choices A, D and E. Those three items are parameters. This leaves <u>choices B and C</u> as our final answers.
or xbar is a sample statistic, and it represents an estimate of the population mean. Similarly,
or p-hat is the sample proportion and it represents an estimate of the population proportion. These are considered unbiased estimators.
Another example of an unbiased estimator is the variable s which represents the sample standard deviation and it estimates the value of sigma. All of these estimators have one thing in common: they are based on a sample, which in turn tries to predict what the corresponding population value is. In other words, the statistic's job is to estimate the parameter.
Below is a reference table for all of the items mentioned.
Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to <u>$3.60</u>
<h3>What
is consumer surplus?</h3>
Consumers' surplus is a measure of consumer welfare and is defined as the excess of social valuation of product over the price actually paid. It is measured by the area of a triangle below a demand curve and above the observed price. Since there is willingness to pay.
Therefore, the correct answer is as given above.
learn more about consumer surplus: brainly.com/question/380921
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The complete question goes thus:
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to________
Answer:
Reflected
Explanation:
Because light will reflect off the object into our eyes