On a given day, the price of a gallon of milk had a mean price of $2.16 with a standard deviation
of $0.07. A particular food store sold milk for $2.09 /gallon. Interpret the z-score for this gas
station.
A) The milk price of this food store falls 7 standard deviations below the mean milk price of
all food stores.
B) The milk price of this food store falls 7 standard deviations above the mean milk price of
all food stores.
C) The milk price of this food store falls 1 standard deviation above the mean milk price of
all food stores.
D) The milk price of this food store falls 1 standard deviation below the milk gas price of all
food stores.
D
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As a receiver, you decode the sender's message by assigning meaning to the symbols
Indicate whether this statement is true or false.
Comparative advantage differs from absolute advantage in that the former ________, whereas the latter ________
A) holds that countries should specialize their production; does not B) holds that trade should be kept as nearly in balance as possible; says countries should seek a favorable balance of trade C) bases trade on natural advantages; bases trade on acquired advantage D) states that there is a basis of trade even if one country can produce everything more efficiently than another country; does not deal with this issue