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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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Suppose that Shen is a diligent hard - working first- year college student. One Friday, he decides to start the day by working through 300 practice problems to study for the econometrics class. Using a table to track his progress throughout the day, he notices that as the hours pass, takes him longer to solve the problems.Use the table to answer the following questions.
Transcribed Image Text:Suppose that Shen is a diligent hard - working first- year college student. One Friday, he decides to start the day by working through 300 practice problems to study for the econometrics class. Using a table to track his progress throughout the day, he notices that as the hours pass, takes him longer to solve the problems.Use the table to answer the following questions.
Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Use the table to answer the following questions. Total Problems Solved 0 120 210 270 300 The marginal, or additional, gain from Amaia's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Amaia's fourth hour spent working, from 10:00 AM to 11:00 AM, is O The following week, Amaia's econometrics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 45 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students are able to review lecture notes at a constant pace during each hour spent studying. OO Given this information, in order to use her 4 hours of time spent studying to get the highest possible test score, how many hours should she have spent solving multiple choice problems, and how many hours should she have spent reviewing lecture notes? 0 hours working on problems, 4 hours reading 2 hours working on problems, 2 hours reading problems. 3 hours working on problems, 1 hour reading problems. 4 hours working on problems, 0 hours reading
Transcribed Image Text:Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Use the table to answer the following questions. Total Problems Solved 0 120 210 270 300 The marginal, or additional, gain from Amaia's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Amaia's fourth hour spent working, from 10:00 AM to 11:00 AM, is O The following week, Amaia's econometrics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 45 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students are able to review lecture notes at a constant pace during each hour spent studying. OO Given this information, in order to use her 4 hours of time spent studying to get the highest possible test score, how many hours should she have spent solving multiple choice problems, and how many hours should she have spent reviewing lecture notes? 0 hours working on problems, 4 hours reading 2 hours working on problems, 2 hours reading problems. 3 hours working on problems, 1 hour reading problems. 4 hours working on problems, 0 hours reading
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