The variance of the sample
a. can never be negative.
b. can be negative.
c. cannot be zero.
d. cannot be less than one.
Question 2
When the cost of a resource is sunk, then the dual price can be interpreted as the
a. minimum amount the firm should be willing to pay for one additional unit of the resource.
b. maximum amount the firm should be willing to pay for one additional unit of the resource.
c. minimum amount the firm should be willing to pay for multiple additional units of the resource.
d. maximum amount the firm should be willing to pay for multiple additional units of the resource.
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Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...