The Following Data Represent the Scores of 50 Students on a Statistics

question 131

Essay

The following data represent the scores of 50 students on a statistics exam. The mean score is 80.02, and the standard deviation is 11.9. $$\begin{array} { l l l l l l l l l l } 39 & 51 & 59 & 63 & 66 & 68 & 68 & 69 & 70 & 71 \\71 & 71 & 73 & 74 & 76 & 76 & 76 & 77 & 78 & 79 \\79 & 79 & 79 & 80 & 80 & 82 & 83 & 83 & 83 & 85 \\85 & 86 & 86 & 88 & 88 & 88 & 88 & 89 & 89 & 89 \\90 & 90 & 91 & 91 & 92 & 95 & 96 & 97 & 97 & 98\end{array}$$ Use the z-score method to identify potential outliers among the scores.

Compare the economic outcomes of firms in perfectly competitive markets versus those in monopoly markets.

Understand the concept of barriers to entry and its impact on market structures.

Assess the role of public ownership and regulation in controlling monopoly power and protecting welfare.

Analyze the reasons why governments may choose not to intervene in monopoly markets.

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Definitions:

Observational Study

A research method where the researcher observes ongoing behavior without intervening directly with the subjects.

Systematically Recording

The process of consistently and methodically documenting information or data according to a predetermined system.

Nursery School

An educational institution for children too young for elementary school, typically from ages three to five, focusing on play and learning activities.

Case Studies

Research method that involves the detailed examination of a single subject or situation to explore its dynamics and draw conclusions.