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Consider the following scenario to understand the relationship between marginal and average values. Suppose Shen is a professional bash player, and his game log for free throws can be summarized in the following table. Fill in the columns with Shen's free-throw percentage for each game and his overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 8/10 8/10 80 80 6/10 14/20 3 1/5 15/25 4 3/5 18/30 8/10 26/40

Consider the following scenario to understand the relationship between marginal and average values. Suppose Shen is a professional bash player, and his game log for free throws can be summarized in the following table. Fill in the columns with Shen's free-throw percentage for each game and his overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 8/10 8/10 80 80 6/10 14/20 3 1/5 15/25 4 3/5 18/30 8/10 26/40

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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**Aplia Homework: Production and Cost in the Firm** **Graph Description:** The graph displays a comparison of free-throw percentages over several games. The x-axis represents "Game" numbered from 0 to 5, while the y-axis represents "Free-Throw Percentage" ranging from 0 to 100. Two types of data points are shown: 1. **Game Free-Throw Percentage** (represented by an orange square). 2. **Average Free-Throw Percentage** (represented by a green triangle). **Text Explanation:** You can think of the result in any one game as being Shen's marginal free-throw percentage. Based on your previous answer, you can deduce that when Shen's marginal free-throw percentage is below the average, the average must be [dropdown]. You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total cost curve, the average total cost must be [dropdown]. Also, when the marginal cost curve is above the average total cost curve, the average total cost must be [dropdown]. Therefore, the marginal cost curve intersects the average total cost curve [dropdown].
Transcribed Image Text:**Aplia Homework: Production and Cost in the Firm** **Graph Description:** The graph displays a comparison of free-throw percentages over several games. The x-axis represents "Game" numbered from 0 to 5, while the y-axis represents "Free-Throw Percentage" ranging from 0 to 100. Two types of data points are shown: 1. **Game Free-Throw Percentage** (represented by an orange square). 2. **Average Free-Throw Percentage** (represented by a green triangle). **Text Explanation:** You can think of the result in any one game as being Shen's marginal free-throw percentage. Based on your previous answer, you can deduce that when Shen's marginal free-throw percentage is below the average, the average must be [dropdown]. You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total cost curve, the average total cost must be [dropdown]. Also, when the marginal cost curve is above the average total cost curve, the average total cost must be [dropdown]. Therefore, the marginal cost curve intersects the average total cost curve [dropdown].
## Analyzing Free-Throw Performance in Basketball Consider the following scenario to understand the relationship between marginal and average values. Suppose Shen is a professional basketball player, and his game log for free throws can be summarized in the following table. ### Free-Throw Data Table | Game | Game Result | Total | Game Free-Throw Percentage | Average Free-Throw Percentage | |------|-------------|-------|----------------------------|-------------------------------| | 1 | 8/10 | 8/10 | 80 | 80 | | 2 | 6/10 | 14/20 | | | | 3 | 1/5 | 15/25 | | | | 4 | 3/5 | 18/30 | | | | 5 | 8/10 | 26/40 | | | **Instructions:** Fill in the columns with Shen’s free-throw percentage for each game and his overall free-throw average after each game. ### Graphing Instructions On the following graph, use the orange points (square symbol) to plot Shen’s free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game. **Note:** Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ### Graph Explanation - **Axis Labels:** - The vertical axis is labeled as "Percentage" ranging from 0 to 100. - The horizontal axis represents the games. - **Legend:** - The orange square symbol represents "Game Free-Throw Percentage." - The green triangle symbol represents "Average Free-Throw Percentage." By plotting these points, you can visualize the variations in Shen's performance and his overall consistency across the games. This exercise helps in understanding how individual performances contribute to aggregated statistical outcomes.
Transcribed Image Text:## Analyzing Free-Throw Performance in Basketball Consider the following scenario to understand the relationship between marginal and average values. Suppose Shen is a professional basketball player, and his game log for free throws can be summarized in the following table. ### Free-Throw Data Table | Game | Game Result | Total | Game Free-Throw Percentage | Average Free-Throw Percentage | |------|-------------|-------|----------------------------|-------------------------------| | 1 | 8/10 | 8/10 | 80 | 80 | | 2 | 6/10 | 14/20 | | | | 3 | 1/5 | 15/25 | | | | 4 | 3/5 | 18/30 | | | | 5 | 8/10 | 26/40 | | | **Instructions:** Fill in the columns with Shen’s free-throw percentage for each game and his overall free-throw average after each game. ### Graphing Instructions On the following graph, use the orange points (square symbol) to plot Shen’s free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game. **Note:** Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ### Graph Explanation - **Axis Labels:** - The vertical axis is labeled as "Percentage" ranging from 0 to 100. - The horizontal axis represents the games. - **Legend:** - The orange square symbol represents "Game Free-Throw Percentage." - The green triangle symbol represents "Average Free-Throw Percentage." By plotting these points, you can visualize the variations in Shen's performance and his overall consistency across the games. This exercise helps in understanding how individual performances contribute to aggregated statistical outcomes.
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