The Z Score for Any Raw Score May Be Found

question 58

Multiple Choice

The z score for any raw score may be found by

• A) subtracting the mean from the raw score and dividing by the standard deviation
• B) subtracting the raw score from the mean and dividing by the standard deviation
• C) subtracting the raw score from 100 and dividing by 15
• D) none of these, since raw scores cannot be converted into z scores

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Definitions:

Consumer Surplus

The discrepancy in the total spend consumers are willing to shoulder for a product or service as opposed to what they actually disburse.

Market Price

The present value at which a service or asset is available for purchase or sale in a market.

Consumer Surplus

The gap in the total financial commitment consumers are ready to make for a product or service versus their actual commitment.

Hockey Tickets

Specific goods in the form of admission to watch a hockey game, demonstrating concepts of supply, demand, and pricing in a market.