If There Is No Difference in the Means, the Variance

question 60

Short Answer

If there is no difference in the means, the variance
will be approximately equal to the within-group variance.

---

Definitions:

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Diminishing Returns

A principle stating that as more of a variable input is added to fixed inputs, the additional output gained from each new unit of input eventually decreases.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, ceteris paribus.

Production Technique

The method or process used to convert inputs into outputs in manufacturing or service delivery.