In Practice, the Standard Error of the Difference Between Means $\sqrt { \left. \frac { \left( \sigma _ { 1 } \right) ^ { 2 } } { n _ { 1 } } + \frac { ( \sigma } { n _ { 2 } } \right) ^ { 2 } }$

question 81

Multiple Choice

In practice, the standard error of the difference between means is estimated by.

• A) \(\sqrt { \left. \frac { \left( \sigma _ { 1 } \right) ^ { 2 } } { n _ { 1 } } + \frac { ( \sigma } { n _ { 2 } } \right) ^ { 2 } }\)
• B) \(s _ { \bar { x } _ { 1 } - \bar { x } _ { 2 } }\)
• C) \(\left( s _ { \bar { x } _ { 1 } - \bar { x } _ { 2 } } \right) ^ { 2 }\)
• D) \(\frac { \sigma _ { 1 } } { n _ { 1 } } + \frac { \sigma _ { 2 } } { n _ { 2 } }\)

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Definitions:

Natural Monopoly

A market condition in which a single firm can supply a product or service to an entire market at a lower cost than what would be possible if there were multiple firms.

Economies Of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread out over more units of production.

Total Demand

The entire quantity of a product or service that consumers in a market are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one extra unit of a product or service.