What Are Outliers

question 4

Multiple Choice

What are outliers?

• A) the lowest and the highest scores in a distribution of scores
• B) the high and low scores that cause a distribution of scores to be inverted
• C) a few values that are significantly higher or lower than most values in a distribution
• D) test takers who earn scores that are very different from other test takers

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Definitions:

Average Product

The total output produced per unit of a factor of production, calculated as total product divided by the quantity of the factor used.

Marginal Product

The additional output produced by adding one more unit of a specific input, while holding other inputs constant.

Production Possibilities

Various combinations of the amounts of different goods that can be produced within a given economy, given technological constraints and available resources.

Isocost Line

A graph line representing all combinations of a firm's inputs that cost the same total amount.