The Concept of Utility Is Fundamental to Utilitarianism and Describes

question 69

Multiple Choice

The concept of utility is fundamental to utilitarianism and describes the:

• A)method whereby wealth is stored
• B)method by which society chooses to allocate resources
• C)optimal distribution of wealth in society
• D)level of satisfaction derived from a person's circumstances

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Definitions:

Critical Value

A point on the scale of a test statistic beyond which the null hypothesis is rejected in favor of an alternative hypothesis.

Interaction Effect

A statistical phenomenon where the effect of one independent variable on a dependent variable depends on the level of another independent variable.

DfB

Degrees of Freedom Between groups, referring to the number of independent values in the calculation of variance between the different groups under study.

DfWG

Degrees of Freedom Within Groups, a statistical concept used in variance analysis to describe the number of independent pieces of information that went into the estimate of variability.