What System Is Standardized to Have a Mean of 5

question 63

Multiple Choice

What system is standardized to have a mean of 5 and a standard deviation of approximately 2?

• A) decile
• B) McCall's T
• C) stanine
• D) quartile

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Definitions:

Network Externality

A situation where the value or utility of a product or service to one user increases with the number of other users of the same or compatible products or services.

Marginal Private Benefits

The additional benefit received by consumers or producers from consuming or producing one more unit of a good or service.

Negative Externalities

Unintended adverse effects on third parties not involved in an economic transaction, like pollution.

Monopolistic Competition

A market structure in which there are many competing producers in an industry, each producer sells a differentiated product, and there is free entry and exit into and from the industry in the long run.