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A Summary Measure That Is Computed to Describe a Characteristic

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A summary measure that is computed to describe a characteristic from only a sample of the population is called


Definitions:

Compensating Differential

The additional amount of income that a worker requires to be indifferent between working in a job with undesirable conditions and a job with desirable conditions.

Compensating Differential

The difference in wages that arises between jobs with differing levels of risk, convenience, or other non-monetary characteristics, compensating for the less desirable aspects of certain jobs.

Law School

An institution specializing in legal education to prepare students for careers in law.

Attractiveness

A characteristic or set of characteristics that pleases the aesthetic senses, especially the sight, or increases interest or desire in something or someone.

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