S² = S X_i - X ²/n - 1 Is

question 3

Multiple Choice

s² = S X_i - X ²/n - 1 is the formula for calculating which statistical value?

• A)covariance
• B)standard deviation
• C)variance
• D)mean

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Definitions:

Services

Intangible products such as healthcare, education, and financial advice that are consumed at the point of sale and do not result in ownership of any physical or digital goods.

Thorstein Veblen

An American economist and sociologist known for his theories on the socio-economic impacts of conspicuous consumption and leisure.

Consumption

The process by which goods and services are utilized by consumers, leading to a decrease in their quantity or quality, reflecting the end phase of economic activity.

Disposable Income

Post-income tax financial reserves set aside for households to utilize in spending and saving.