In Discriminant Analysis, with 'M' Groups and 'P' Predictor Variables

question 23

True/False

In discriminant analysis, with 'm' groups and 'p' predictor variables, min p,m-1) gives the number of discriminant functions.

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Definitions:

Price Ceiling

A legal maximum price set below the equilibrium price, preventing sellers from charging more than this amount.

Price Floor

A government-imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.

Shortage

The occurrence of demand for a certain product or service outpacing the supply in the marketplace.

Surplus

The amount of an asset or resource that exceeds the portion that is actively utilized; in economic context, it often refers to excess production or budgetary surplus.