The T-Distribution for Smaller Sample Sizes Is Slightly Different from a Normal

question 20

Multiple Choice

The t-distribution for smaller sample sizes is slightly different from a normal distribution because:

• A)it has more data in the middle of the curve
• B)it is shaped more like a rectangle
• C)it is a positively skewed distribution
• D)it has more data in the tails of the curve

---

Definitions:

Perfectly Competitive Industry

An economic model where many firms sell identical products, entry and exit are easy, and no single firm can influence the market price.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.

ATC

Average Total Cost, the total cost per unit of output when all fixed and variable costs are considered.

Perfectly Competitive Firm

A firm in a perfectly competitive market that cannot influence the market price and thus takes the price as given for its decision making.