Which of the Following Symbols Represents the Variance of the Population

question 49

Multiple Choice

Which of the following symbols represents the variance of the population?

• A)\(\sigma\)²
• B)\(\sigma\)
• C)\(\mu\)

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Definitions:

Marginal Costs

The additional cost incurred by producing one more unit of a good or service.

Declining

A term indicating a decrease or reduction in quantity, quality, or importance over time.

Cost Function

A mathematical relationship describing how the cost of production changes with changes in the quantity of output produced.

Competitive Market

A market structure characterized by many buyers and sellers, none of whom can influence market price significantly on their own.