Q. Calculate Max's marginal utility from windsurfing at each number of hours per day. Does Max's marginal utility from windsurfing obey the principle of diminishing marginal utility?
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility?
Which does Max enjoy more: his 6th hour of windsurfing or his 6th hour of snorkeling?
a) Banks only accept coins for deposit if they are rolled in
specified amounts. Pennies, for example, are to be in rolls of 50. A Canadian bank has checked the 200 rolls of pennies they have on hand. Only 12 of the rolls contained all Canadian pennies: the rest all had at least one American penny. Altogetherin 200 rolls, about how many American pennies are there?
b) What is the median number of American pennies in a roll?