We have a null hypothesis that u=3.75, but we are reluctant to accept this as the population value in case the true value is different.
an analysis tells us that the probability of rejecting the null hypothesis, if u is really 3.95, is .75.

this probability is: ) the power of the test against the alternative u=3.95b)the probability of a type 1 errorc) beta, which is equal to1 alpha (that is, one minus the significance level)d) the probability of a type 2 errore) equal to the significance level

1. an economy consists of three workers: larry, moe, and curly. each works 10 hours a day and can produce two services: mowing lawns and washing cars. in an hour, larry can either mow one lawn or wash one car; moe can either mow one lawn or wash two cars; and curly can either mow two lawns or wash one car. a. calculate how much of each service is produced under the following circumstances: a. all three spend all their time mowing lawns. b. all three spend all their time washing cars. c. all three spend half their time on each activity d. larry spends half of his time on each activity, while moe only washes cars and curly only mows lawns b. using your answers to part a, draw a production possibilities frontier and label points a, b, c, and d on your graph. explain why the production possibilities frontier has the shape it does. c. are any of the allocations calculated in part a inefficient? explain.