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begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} hline & A & B & C & D & E & F & G & H & 1 & J & K &

image text in transcribed \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F & G & H & 1 & J & K & L \\ \hline 1 & \multicolumn{12}{|c|}{ A farm is trying to decide whether to continue to use traditional methods or upgrade to more modern farming techniques. } \\ \hline 2 & \multicolumn{11}{|c|}{ Use the data below to determine which of the two methods the farm should use. For each method indicate: } & \\ \hline 3 & \multicolumn{2}{|c|}{ 1. Expected profit. } & \multicolumn{5}{|c|}{ 2. How often it outperforms the other method. } & \multicolumn{4}{|c|}{ 3. How often it loses money. } & \\ \hline 4 & & & & & & & & & & & & \\ \hline 5 & & & \multicolumn{2}{|c|}{ Market Price } & & & & & & & & \\ \hline 6 & & & Mean & St. Dev. & & & & & & & & \\ \hline 7 & & & $27.50 & $1.25 & & & & & & & & \\ \hline 8 & & & & & & & & & & & & \\ \hline 9 & & & \multicolumn{2}{|c|}{ Cost Per Bushel } & \multicolumn{2}{|c|}{ Bushels Produced } & & & & & & \\ \hline 10 & Process & Fixed Cos & Mean & St. Dev. & Mean & St. Dev. & & & & & & \\ \hline 11 & Traditional & $75,000 & $19.00 & $2.50 & 10,000 & 1,800 & & & & & & \\ \hline 12 & Modern & $200,000 & $4.25 & $0.50 & 9,000 & 400 & & & & & & \\ \hline \end{tabular}

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