Safety regulations state that roller coasters cannot operate safely in low temperatures. Throughout the day, ride operators measure the temperature at several random locations along the track to verify that the temperature is above an established threshold value, allowing the ride to operate safely. The collected data is used to conduct a one-sample z -test of the null hypothesis that the mean temperature is warm against the alternative that the mean temperature is too low. If the null hypothesis is rejected in favor of the alternative, the ride is shut down due to unsafe conditions. Choose the correct description of a type I error and a type II error in this context.

type I error: mean temperature is too low and ride is shutdown.

type II error: mean temperature is warm and ride is not shutdown. This can lead to safety incidents

Explanation:

type I error: Falsely rejecting null hypothesis when it is actually true

type II error: Falsely accepting null hypothesis when it is actually false

6.3%

explanation:

the acceptance rate for yale university is 6.3%. this means that only 6 percent of people who apply actually get accepted!

marginal cost is a microeconomic measure that us to evaluate the extent to which the level of production of a good is sustainable in accounting, that is, to how many quantities the company plans to profit from the production of the good.

the concept of marginal cost is simple, it means the cost of producing one more item. for example, in the case of pies, the marginal cost is the cost of producing one more pie than those that have already been produced.

it is important to understand that productive activity influences marginal cost. the marginal cost of some goods can be very high, while others may be insignificant. for example, the marginal cost of producing an extra plane is very high. already the marginal cost of a water company to provide 1l more water is derisory.

in the case of pies, the cost involves the inputs, the labor and the fixed cost, which involves the fixed space of the bakery. the level of production initially has the marginal cost decreasing because there is space and manpower available. however, to produce more you have to hire more workers and buy more inputs. if physical space is limited, workers will conflict with places, inputs and their productivity will decrease, meaning there is an optimum point of production for each level of space and manpower. from this point on, the productivity of the workers will be getting smaller because of lack of space, so that the marginal cost of producing one more pie will be increasing. so, although you have not posted the chart, but if you have the answer, you can see that my explanation goes according to the marginal cost curve that will increase from the 4th pie, answer (c).