Consider the following scenario to understand the relationship between marginal and average values. Suppose Felix is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Felix'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 1. 6/8 6/8 75 75 2/8 8/16 3 2/4 10/20 4 8/10 18/30 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Felix'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 Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 100 90 Game Free-Throw Percentage 80 70 60 Average Free-Throw Percentage 50 40 E-THROW PERCENTAGE
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- Fill in the columns with Bob's free-throw percentage for each game and his overall free-throw average after each game. Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 80 8/10 12/20 Game 1 2 3 st 4 5 8/10 4/10 2/8 2/4 6/8 14/28 16/32 22/40 80Consider the following scenario to understand the relationship between marginal and average values. Suppose Sam is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Sam's free-throw percentage for each game and his overall free-throw average after each game. Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage Game 1 8/10 80 12/20 14/28 16/32 22/40 2 3 4 5 8/10 4/10 2/8 2/4 6/8 80 On the following graph, use the orange points (square symbol) to plot Sam'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.Consider the following scenario to understand the relationship between marginal and average values. Suppose Jake is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Jake'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 4/10 12/20 2/8 14/28 4 2/4 16/32 6/8 22/40
- 64. (This problem assumes knowledge of the basic rulesof baseball.) George Lindsey (1959) looked at boxscores of more than 1000 baseball games and foundthe expected number of runs scored in an inning foreach on-base and out situation to be as listed in the fileP09_64.xlsx. For example, if a team has a man on firstbase with one out, it scores 0.5 run on average untilthe end of the inning. You can assume throughout thisproblem that the team batting wants to maximize theexpected number of runs scored in the inning.a. Use this data to explain why, in most cases,bunting with a man on first base and no outs isa bad decision. In what situation might buntingwith a man on first base and no outs be a gooddecision?b. Assume there is a man on first base with one out.What probability of stealing second makes an attempted steal a good idea?Consider the following scenario to understand the relationship between marginal and average values. Suppose Brian is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Brian'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 1 4/5 4/5 80 80 2/5 6/10 1/4 7/14 1/2 8/16 4/4 12/20 On the following graph, use the orange points (square symbol) to plot Brian'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. 100 90 Game Free-Throw Percentage 80 70 60 Average Free-Throw Percentage PERCENTAGEConsider 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. 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 1 8/10 8/10 80 80 6/10 14/20 3 1/5 15/25 4 3/5 18/30 8/10 26/40 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. 100 90 Game Free-Throw Percentage 80 70 Average Free-Throw Percentage RCENTAGE
- Consider the following scenario to understand the relationship between marginal and average values. Suppose Hilary is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Hilary's free-throw percentage for each game and her overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 1 8/10 8/10 80 80 6/10 14/20 1/5 15/25 3/5 18/30 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Hilary's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her 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. M m 4 5HW (Ch 13) The following scenario examines the relationship between marginal and average values. Suppose Nalah is a high school basketball player. The following table presents their game-by-game results for foul shots. Fill in the columns with Nalah's foul-shooting percentage for each game and their overall foul-shooting average after each game. Game Foul-Shooting Percentage Average Foul-Shooting Percentage 80 Game 1 CENTAGE 2 345 -100 90 On the following graph, use the orange points (square symbol) to plot Nalah's foul-shooting percentage for each game individually, and use the green points (triangle symbol) to plot Nalah's overall average foul-shooting 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. 80 70 Game Result 60 4/5 2/5 1/4 1/2 4/4 Total 4/5 6/10 7/14 8/16 12/20 43. 80 Game Foul-Shooting Percentage Average Foul-Shooting Percentage ?The following scenario examines the relationship between marginal and average values. Suppose Parker is a high school basketball player. The following table presents their game-by-game results for foul shots. Fill in the columns with Parker's foul-shooting percentage for each game and their overall foul-shooting average after each game. Game Game Result Total Game Foul-Shooting Percentage Average Foul-Shooting Percentage 1 4/5 80 2 3 4 5 FREE-THROW PERCENTAGE 100 On the following graph, use the orange points (square symbol) to plot Parker's foul-shooting percentage for each game individually, and use the green points (triangle symbol) to plot Parker's overall average foul-shooting 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. 90 80 70 60 50 40 30 20 10 0 4/5 2/5 1/4 1/2 4/4 0 6/10 7/14 8/16 12/20 1 2 GAME 0000 3 5 Game Foul-Shooting Percentage Average Foul-Shooting Percentage…
- 3. The relationship between marginal and average costs The following scenario examines the relationship between marginal and average values. Suppose Nalah is a high school basketball player. The following table presents their game-by-game results for foul shots. Fill in the columns with Nalah’s foul-shooting percentage for each game and their overall foul-shooting average after each game. Game Game Result Total Game Foul-Shooting Percentage Average Foul-Shooting Percentage 1 8/10 8/10 80 80 2 4/10 12/20 3 2/8 14/28 4 2/4 16/32 5 6/8 22/40 On the following graph, use the orange points (square symbol) to plot Nalah’s foul-shooting percentage for each game individually, and use the green points (triangle symbol) to plot Nalah’s overall average foul-shooting 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.…11:22 Fri 10 Dec VPN O 79% managebac-prod-china.s3.cn-north-1.amazonaws.com.cn A have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer. Tandy's Art is the only art studio and workshop in a small remote town, and Tandy’s Art is the only employer of artists in the area. The graph below shows the market for artists with the marginal factor (resource) cost curve, the labor supply curve, and the marginal revenue product curve. Marginal Factor Cost Supply 28 22 20 16 10 Marginal Revenue Product 4 12 18 24 32 36 40 Quantity of Artists 48 60 80 16 (a) Identify the profit-maximizing number of artists that Tandy's Art will hire. Explain using the labeling on the graph. (b) Identify the profit-maximizing wage rate that Tandy's Art will pay its artists. Explain using the labeling on the graph. (c) If the wage rate is $10, state whether there will be a shortage or a surplus of…3. The relationship between marginal and average costs The following scenario examines the relationship between marginal and average values. Suppose Piper is a high school basketball player. The following table presents their game-by-game results for foul shots. Fill in the columns with Piper's foul-shooting percentage for each game and their overall foul-shooting average after each game. Game Game Result Total Game Foul-Shooting Percentage Average Foul-Shooting Percentage 1 8/10 80 2 14/20 15/25 18/30 26/40 3 4 5 FREE-THROW PERCENTAGE On the following graph, use the orange points (square symbol) to plot Piper's foul-shooting percentage for each game individually, and use the green points (triangle symbol) to plot Piper's overall average foul-shooting 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. 100 90 80 70 60 50 40 30 20 10 0 8/10 6/10 1/5 3/5 8/10 0 2 80 GAME Game…