An Experimental Design Where the Experimental Units Are Randomly Assigned

question 23

Multiple Choice

An experimental design where the experimental units are randomly assigned to the treatments is known as _____ design.

• A) factor block
• B) random factor
• C) completely randomized
• D) randomized treatment

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Definitions:

Diminishing Returns

A principle stating that as one factor of production increases while others remain fixed, there will eventually be a decrease in the incremental output gained.

Normal Rate

A standard or usual level of financial return on investment or interest on loans.

Supply

The total amount of a product or service that is available to consumers at a given price over a specific period.

Profits

The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes involved in sustaining the activity.