Opportunity Cost Is the

question 139

Multiple Choice

Opportunity cost is the

• A)cost incurred when one fails to take advantage of an opportunity.
• B)cost incurred in order to increase the availability of attractive opportunities.
• C)cost of the best option forgone as a result of choosing an alternative.
• D)drudgery of the undesirable aspects of an option.

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Definitions:

IQR

Stands for Interquartile Range, which is a measure of variability based on dividing a data set into quartiles.

Median Score

The middle value in a set of data, where half the scores are higher and half are lower.

Consistent

In statistics, refers to an estimator that, as the sample size grows to infinity, converges in probability to the true parameter being estimated.

Salaries

Refers to the regular payments made to employees for their work or services, typically expressed in terms of annual amounts or hourly rates.