(I If the Mean of a Frequency Distribution Is Smaller

question 23

Multiple Choice

(i. If the mean of a frequency distribution is smaller than the median and mode, the Pearson's
Coefficient of skewness would be negative.
(ii. The only time the variance equals the standard deviation is when both equal 1.
(iii) According to the Empirical Rule, 68 percent of the observations lie within plus and minus one
Standard deviation of the mean.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements, but not (i).
• E) (i), (ii) and (iii) are all false statements.

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Definitions:

Net Taxes

Net taxes are the total taxes paid to the government after subtracting transfers and subsidies received from the government.

Real GDP

The calculation of a nation's economic productivity accounting for variations in prices, such as inflation or deflation, to represent the true worth of its produced goods and services.

Classical Economists

A group of economists in the late 18th and early 19th centuries who believed in the idea of self-regulating markets, emphasizing free competition and minimal government intervention.

Full Employment

A state in an economy where all existing labor forces are deployed in the utmost efficient manner.