Which of the following statements is true about the mean of a series?
A) The mean is equal to zero when all the values are identical.
B) The mean is a commonly used technique for summarizing data.
C) The mean is less than all the individual observations in the data set.
D) The mean is calculated as the sum of all values multiplied by the number of values.
B
You might also like to view...
Rent control laws are imposed when city officials believe landlords have been exploiting tenants. Which of the following criteria are they using to guide their actions?
A. growth B. equity C. stability D. efficiency
If the cross-price elasticity of demand between fish and chicken is 2, then a 2% increase in the price of fish will result in a ________ in the quantity of chicken demanded.
A. 10% increase B. 4% increase C. 1% increase D. 20% decrease
Four firms agree to operate as a monopoly and charge the monopoly price of $15 for their product and (jointly) produce the monopoly quantity of 25,000 units. If the competitive price for the product is $8, under the Clayton Act these four firms face treble damages of ________.
A) $525,000 B) $3,000,000 C) $1,000,000 D) $175,000
The payroll tax appears to be a proportional tax. In reality it is
a. highly progressive. b. actually proportional. c. highly regressive. d. regressive on low-income persons and progressive on high-income persons.