In Presenting Data That Result from an Experiment, a Group

question 4

Multiple Choice

In presenting data that result from an experiment, a group of students shows that most of their measurements fall on a straight diagonal line on their graph. However, two of their data points are "outliers" and fall far to one side of the expected relationship. Which of the following is the most reasonable way to handle the outliers when analyzing the data?

• A) Do not show these points because clearly something went wrong in the experiment.
• B) Average several trials, rule out the improbable results, and do not show them in the final work.
• C) Show all results obtained and then try to explore the reason(s) for the variation in data.
• D) Change the details of the experiment until they can obtain the expected results.

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Definitions:

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers.

Consumer Surplus

The divergence between the total payment consumers are willing to make for a product or service and what they really pay.

Demand Increase

A situation where consumers are willing and able to purchase more of a product or service at each price level, often caused by changes in tastes, income, or prices of related goods.

Consumer Surplus

The separation in monetary terms between what consumers are willing to pay for a good or service and their final payment amount.