Basetsana Earned 78 Points on Her Statistics Exam

question 231

Multiple Choice

Basetsana earned 78 points on her statistics exam. Ten of the students in her class earned higher scores than she did, and ten students earned lower scores than she did. Based on this information, you can conclude that Basetsana's score of 78 points is

• A) the standardised score for her class.
• B) the median for her class.
• C) the mean for her class.
• D) the mode for her class.

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Definitions:

Increase Profits

Increase Profits means enhancing the financial gain left after subtracting the expenses from the total revenues, aiming for a higher bottom line through various strategies like reducing costs or increasing sales.

Lower Total Costs

Achieving a reduction in the aggregate amount of expenditures necessary for production or provision of services.

Price Discrimination

The strategy of selling the same product to different customers at different prices, based on their willingness to pay.

Deadweight Loss

Deadweight Loss is the loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved, often due to market distortions like taxes or subsidies.