The Mean Square Is the Sum of Squares Divided by _____

question 47

Multiple Choice

The mean square is the sum of squares divided by _____.

• A) the total number of observations
• B) its corresponding degrees of freedom
• C) its corresponding degrees of freedom minus1
• D) None of the answers is correct.

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Definitions:

Marginal Cost

The sum required to produce an extra unit of a product or service.

Variable Input

An input in the production process that can be adjusted in the short run to change the level of output, such as labor hours or raw materials.

Marginal Cost

The investment required to manufacture one more unit of a product or service.

Diminishing Marginal Returns

A principle stating that as one factor of production increases, while others stay constant, the additional output will eventually decline.