Which of the Following Is the Best Definition of Variability

question 21

Multiple Choice

Which of the following is the best definition of variability?

• A) it is the amount of dispersion in a data set containing interval or nominal data
• B) the difference between scores in the present sample and scores in a previous sample
• C) the amount of dissimilarity in ordinal data
• D) amount of dissimilarity (or similarity) in respondents' answers to a particular question
• E) the amount of responses in one respondent's answers to a particular survey question

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Definitions:

Marginal Cost

The financial outlay involved in the manufacture of one more unit of a product or service.

Monopoly Power

The capacity of a firm to control market prices and exclude competition, often by being the sole provider of a product or service.

Barriers to Entry

Barriers that make it difficult for new entrants to join a market or business sector.

Average Total Cost Curve

Depicts the per-unit total cost of production (fixed cost plus variable cost) divided by the quantity of output produced.