Inferential Statistics Are

question 126

Multiple Choice

Inferential statistics are:

• A) statistical procedures that allow researchers to draw inferences about how statistically meaningful a study's results are.
• B) statistical procedures that organize and summarize research data.
• C) averages that are calculated by adding up a set of quantities and multiplying the sum by the total number of quantities in the set.
• D) A set of techniques for combining data from a number of related studies to determine the explanatory strength of a particular independent variable.

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Definitions:

Inputs

The resources used in the production process to create goods or services, including labor, raw materials, and capital.

Scale

The size or level of activity of a company or operation, or the capacity to adjust the size or level of activity.

Increasing Returns

A condition in economics when an increase in the scale of production leads to a greater proportional increase in output.

Isoquants

Curves that represent combinations of inputs that produce the same level of output, used in production theory.