Assume You Have Ratio Data That Are Answers to a Question

question 48

Multiple Choice

Assume you have ratio data that are answers to a question concerning an appropriate price for a service. You have 10,000 respondents you have interviewed and you want to generate a mean for this question. Which of the following command sequences in SPSS would allow you to generate a mean?

• A) SPSS; FREQ; RUN
• B) ANALYZE; SUMMARIZE; FREQUENCIES; MEAN
• C) ANALYZE; GENERATE; FREQ DIS
• D) MEAN; ANALYZE; DESCRIPTIVES
• E) ANALYZE; DESCRIPTIVE STATISTICS; DESCRIPTIVES

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Definitions:

Perfectly Elastic

Describes a situation in economics where the quantity demanded or supplied can change infinitely with any change in price.

Upward-Sloping

A scenario where higher levels of a certain variable lead to higher levels of another variable, typically seen in supply curves where higher prices lead to higher quantities supplied.

Tax Incidence

The analysis of the effect of a particular tax on the distribution of economic welfare, focusing on who ultimately bears the burden of the tax.

Externality Analysis

The study of costs or benefits that affect parties who did not choose to incur that cost or benefit, typically used in the context of environmental and public policy.