In a Sample of N = 6 Scores, the Smallest

question 20

Multiple Choice

In a sample of n = 6 scores, the smallest score is X = 3, the largest score is X = 10, and the mean is M = 6.If the largest score is changed from X = 10 to X = 22, then what is the value of the new mean?

• A)The mean is still M = 6
• B)The mean is M = 7
• C)The mean is M = 8
• D)impossible to determine from the information given

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Definitions:

Constant-cost Industry

An industry where the input prices and costs of production do not change as the industry output changes.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied at those prices.

Purely Competitive

A commercial framework with a vast number of tiny enterprises, a single type of product, freedom to enter and leave, and total transparency of information.

Allocative Efficiency

An allocation scenario where it's not feasible to enhance one person's well-being without negatively impacting another's.