Efficiency Means

question 54

Multiple Choice

Efficiency means:

• A) producing the desired result.
• B) producing goods and services using the least amount of resources.
• C) the amount of output you generate given the amount of input.
• D) the buying and selling of goods using the most amount of resources.

---

Definitions:

Right-Skewed

A description of a distribution of data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the mean is greater than the median.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in the data set deviate from the mean.

Mean

A measure of central tendency that is calculated by dividing the sum of all values in a dataset by the number of values.

Right-Skewed

Refers to a distribution where the tail on the right side of the histogram is longer or fatter than the left side.