The Introduction of Steamboats

question 30

Multiple Choice

The introduction of steamboats

• A) led to dramatic declines in the price of upstream transport.
• B) led to moderate declines in the price of downstream transport.
• C) is the primary reason for falling transportation costs in the early 1800s.
• D) led to an initial decrease in transport costs that continued to fall due to learning by doing and the construction of lighter boats with increased capacity.
• E) All of the above.

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Definitions:

Coefficient Of Skewness

A statistical measure that quantifies the asymmetry of a distribution around its mean, indicating if the distribution leans to the left or right.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable, indicating how much the distribution leans to one side of the mean.

Positively Skewed

Describes a distribution of data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the majority of the data points are clustered to the left.

Histogram

A graphical representation of data using bars of different heights to illustrate the distribution of variables within intervals.