Excel's _____ Function Can Be Used to Compute the Variance

question 32

Multiple Choice

Excel's _____ function can be used to compute the variance of a discrete random variable.

• A) SUMPRODUCT
• B) AVERAGE
• C) MEDIAN
• D) VAR

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Definitions:

Marginal Cost

The cost associated with producing one additional unit of a product.

Technological Change

Development of new technologies allowing factors of production to be used more effectively.

Isoquant

A curve representing all the combinations of inputs that yield the same level of output.

Isocost Line

A graph that shows all possible combinations of labor and capital that can be purchased for a given total cost.