When We Sort Subjects Only into Those Who Improved Their

question 54

Multiple Choice

When we sort subjects only into those who improved their performance over time, worsened their performance over time, and stayed the same, we have

• A) a one-way classification.
• B) a two-way classification.
• C) a contingency table.
• D) a set of ordered data.

---

Definitions:

Utility Function

A mathematical representation that ranks an individual's preferences over a set of goods and services.

Interest Rate

The share of a loan subject to interest charges to the borrower, typically denoted as an annual percentage of the loan's outstanding sum.

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Rational Consumer

An assumption in economics that consumers aim to maximize their utility or satisfaction from consumption choices, given their budget constraints.