Human Capital Refers to

question 142

Multiple Choice

Human capital refers to

• A) the skills and knowledge that enable a worker to be productive.
• B) machinery used by labor in production.
• C) the accumulated financial wealth of households.
• D) physical capital owned by households rather than businesses.

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Definitions:

Inferential Statistics

A field within statistics that employs a random sample from a larger population to describe and draw conclusions about that population.

Descriptive Statistics

Statistics that describe and summarize the data for a sample.

Descriptive Statistics

Statistical methods that summarize and describe the features of a dataset through metrics such as mean, median, mode, and standard deviation, without drawing conclusions about the population from which the sample was drawn.

Inferential Statistics

Statistical methods that allow researchers to make predictions or inferences about a population based on a sample.