"Your Score on This Variable Is About One-Half of a Standard

question 63

Multiple Choice

"Your score on this variable is about one-half of a standard deviation below the mean." Which of the following statements is MOST accurate?

• A) Your z-score is 1.51.
• B) Your z-score is -1.47.
• C) Your z-score is -.53.
• D) You cannot estimate your z-score with the information provided.

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Definitions:

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; these costs decline as production increases.

Marginal Cost

The financial cost of producing an extra unit of a good or service.

Average Total Cost

The total cost of production divided by the quantity of output produced.

Average Variable Cost

Represents the cost that varies with the level of output, calculated by dividing the variable costs by the quantity produced.