Suppose That All the Values in a Data Set Are

question 158

Multiple Choice

Suppose that all the values in a data set are converted to z-scores. Which of the statements below is true?
A: The mean of the z-scores will be zero, and the standard deviation of the z-scores will be the same as the standard deviation of the original data values.
B: The mean and standard deviation of the z-scores will be the same as the mean and standard deviation of the original data values.
C: The mean of the z-scores will be 0, and the standard deviation of the z-scores will be 1.
D: The mean and the standard deviation of the z-scores will both be zero.

• A) D
• B) A
• C) B
• D) C

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Definitions:

Elasticities of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage.

Pure Monopolists

Firms that are the sole provider of a product or service in the market, lacking any competition and controlling prices.

Economic Profits

The surplus after all the costs of production (including opportunity costs and explicit costs) have been subtracted from total revenues, indicating profitability beyond normal expectations.

Average Total Cost

The total cost of production divided by the quantity produced, representing the per-unit cost of production.