Which of the Following Statements Is True

question 71

Multiple Choice

Which of the following statements is true?

• A)The short run is always somewhere between six and twelve months.
• B)In the short run, changes in output can only be brought about by a change in the quantity of variable inputs.
• C)The long run is any period of time over one year.
• D)In the short run, there are variable costs but no fixed costs.
• E)b and d

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Definitions:

Test Statistic

A value calculated from sample data to evaluate a hypothesis in statistical hypothesis testing.

Sampling Distribution

The probability distribution of a statistic (for example, a mean, variance) obtained from a large number of samples drawn from a specific population.

Confidence Interval

A span of numbers obtained from sample data which is expected to encompass the value of a not yet known population characteristic, specified with a defined degree of certainty.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or calculation, affecting the shape of the distribution.