In Order to Calculate a Percentile Rank, You Need to Know

question 26

Multiple Choice

In order to calculate a percentile rank, you need to know

• A)how many cases are below the score of interest.
• B)whether the distribution is normal or skewed.
• C)the standard deviation of the scores.
• D)the nature of the underlying scale.

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Definitions:

Marginal Revenue Product

Incremental income produced from the application of one additional unit of resources such as labor or capital.

Derived Demand

Demand for a commodity, service, etc., that is a consequence of the demand for something else.

Inputs Demand

The requirement for resources and materials necessary to produce goods and services in an economy.

Secondary Demand

The desire for products and services that derive from the demand for another product or service.