One Measure of Deviation or Surprise Is by Calculating the Expected

question 28

Multiple Choice

One measure of deviation or surprise is by calculating the expected squared distance of each of the various outcomes from their mean value.This is a weighted average squared distance of each possible value from the mean of all observations, where the weights are the probabilities of occurrence.Computationally, we do this by individually squaring the deviation of each possible outcome from the expected value, multiplying this result by its respective probability or likelihood of occurring, and then summing up the resulting products.Identify the measure produced.

• A)Variance
• B)Confidence
• C)Standard deviation
• D)Mode
• E)Range

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Definitions:

Macro

Pertains to a large-scale or overall approach, often used in contrast with micro, which focuses on smaller units within a system.

McDonaldization

A term used to describe the increasing rationalization of the workplace and society, following principles of fast-food restaurants such as efficiency, calculability, predictability, and control.

American Lifestyles

A term encompassing the behaviors, customs, and practices commonly observed among individuals living in the United States, reflecting diverse cultural backgrounds.

Fast-Food Industry

A sector of the food service industry that specializes in food that can be prepared and served quickly.