A "Robust" Test Implies That Violations of the Assumptions Have

question 11

Multiple Choice

A "robust" test implies that violations of the assumptions have little effect on the.

• A)distribution of the standard error
• B)distribution of the degrees of freedom
• C)probability of a Type I error
• D)probability of a Type II error

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Definitions:

Marginal Social Benefit

The additional benefit to society as a whole from increasing the output of a good by one unit.

Private Cost

The costs directly incurred by those who are producing or consuming goods or services.

Marginal Social Benefit

The additional gain to society as a whole from an extra unit of production.

Marginal Social Cost

The cost to society of producing an additional unit of a good or service, including both the private costs and any external costs.