State Whether You Would Expect the Data Set to Be

question 70

Multiple Choice

State whether you would expect the data set to be normally distributed.
-The amount of property taxes paid by homeowners

• A)Normal
• B)Not normal

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Definitions:

Double Coincidence of Wants

A condition in barter economies where two parties each hold an item the other wants, making it possible for an exchange to occur without a common medium of exchange.

Barter Situation

A trade system where goods or services are exchanged directly for other goods or services without the use of money as a medium of exchange.

Commodities

Basic goods used in commerce that are interchangeable with other goods of the same type.

Standard of Value

A base for comparison that allows the determination of the economic value of goods and services.