The Mean Age in Months for Preschool Children Was Reported

question 12

Multiple Choice

The mean age in months for preschool children was reported as 25.5. The standard deviation for Group 1 was 3.4 and for Group 2, 4.9. From this, we may conclude that

• A) Group 1 is more variable than Group 2.
• B) the mode for Group 1 is higher than that for Group 2.
• C) Group 2 is more variable than Group 1.
• D) the median age for Group 2 is higher than that for Group 1.

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Definitions:

Utility Function

In economics, a mathematical representation that quantifies an individual's preference for certain goods or services, aiming to predict choice behaviors.

Earrings

Jewelry worn on the earlobe or through another part of the ear, typically as a form of personal adornment.

Income

The monetary payment received by an individual or household from various sources like work, investments, or transfers, over a specified period.

Consumer's Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.