The Mean on a Test Is 75 with an SD

question 16

Short Answer

The mean on a test is 75 with an SD of 10. What is the raw score for a percentile rank of 80?

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Definitions:

Short Run

A time period in which at least one factor of production is fixed, limiting the ability of firms to adjust to market changes.

Long Run

A period in which all factors of production and costs are variable, allowing full industry adjustment.

Labor Supply

Refers to the total hours that workers or the labor force are willing to work at a given wage rate.