Suppose That the Cost of a Statistics Text Was $55

question 4

Multiple Choice

Suppose that the cost of a statistics text was $55 in 1985 and is $90 in 2000. What is the 'Statistics Text Index' number, rounded to the nearest tenth, for the 1985 edition with the 2000 price as the reference value?

• A) 0.6
• B) 163.6
• C) 1.6
• D) 61.1

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Definitions:

Species Extinction

The permanent disappearance of a species from Earth.

Property Rights

Legal rights to possess, use, and dispose of assets, including land, buildings, and intellectual property.

Marginal Cost

The financial increase due to the production of an extra product or service unit.

Artificially Scarce Good

A product or service whose availability is restricted through patents, copyrights, or other legal means, rather than by the limits of physical scarcity.