A Variable X Has a Mean, µ, of 22 and a Standard

question 17

Multiple Choice

A variable x has a mean, µ, of 22 and a standard deviation, Ϭ, of 7. Determine the standardized version of x.

• A)\(z = \frac { x - 7 } { 22 }\)
• B) \(z = \frac { x - 22 } { 7 }\)
• C) \(x = \frac { z - 22 } { 7 }\)
• D) \(z = - \frac { 22 } { 7 }\)

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Definitions:

Equilibrium Quantity

The amount of products or services available and sought after at the equilibrium price, where the quantity supplied matches the quantity demanded.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.

Transaction Costs

Expenses incurred when buying or selling goods or services, including fees, charges, and other costs associated with the transfer of assets.

Exchange

The act of giving one thing and receiving another, especially of the same type or value, in return.