In a Social Work Research Class, the Instructor Asked Each

question 6

Multiple Choice

In a social work research class, the instructor asked each student how many hours he or she had studied for a test and then compared this (predictor) variable with his or her test grade (the outcome variable) . Data analysis produced a high positive correlation and the regression equation Y' = 55 + 6(X) . Mark was sick when the exam was given. He studied 5 hours prior to taking the make-up test. What is Mark's predicted grade on the test?

• A) 61
• B) 30
• C) 85
• D) 94

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period of time.

Long Run

A period in which all factors of production and costs are variable, allowing firms to adjust to meet changes in the market.

Industry Entry

The process of a new competitor or company beginning operations in a specific market or industry.

MR

Marginal Revenue, the additional income that is gained from selling one more unit of a product or service.