If a Graph of a Distribution Shows a Very Narrow

question 10

Multiple Choice

If a graph of a distribution shows a very narrow range, which statement is most likely true?

• A) the mean and the median are identical
• B) the distribution has a large standard deviation
• C) the distribution has a small standard deviation
• D) there is much variation in the values in the distribution

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Definitions:

Framing Effect

The cognitive bias where people react differently to a particular choice depending on how it is presented, such as a loss or gain.

High-End Retailers

Retail outlets that focus on selling premium products and services, often associated with luxury or top-quality items.

Architecture

The art and science of designing and constructing buildings and other physical structures, focusing on aesthetics, functionality, and the spatial experience.

Prospect Theory

A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.