Compute the Standard Deviation of a Variable from Raw Data $14,15,16,17,18$

question 115

Multiple Choice

Compute the Standard Deviation of a Variable from Raw Data
- $14,15,16,17,18$

• A) \(1.6\)
• B) \(2.5\)
• C) \(1.3\)
• D) \(1.5\)

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Definitions:

Substitution Effect

The economic principle that as prices rise or income decreases, consumers will replace more expensive items with less costly alternatives.

Income Effect

The impact of a change in an individual's income on their purchasing behavior, specifically how it affects the quantity of goods or services they buy.

Warren Buffet

A highly successful investor and philanthropist known for his value investing approach and as the principal shareholder and CEO of Berkshire Hathaway.

Purchase Commodities

The act of buying raw materials or primary agricultural products that can be exchanged with other goods of the same type.