In Calculating the Standard Deviation, If We Didn't Square the Differences

question 38

True/False

In calculating the standard deviation, if we didn't square the differences between the observations and the mean, then the standard deviation itself would be a negative number.

---

Definitions:

Diminishing Returns

A rule which posits that when investment in a specific sector grows, the profit rate from that investment will not continue to rise past a certain threshold if all other factors are kept unchanged.

AVC

Average Variable Cost is the total variable cost per unit of output.

ATC

Average Total Cost; the per-unit cost of production, calculated by dividing the total cost by the quantity of output produced.

Marginal Output

The additional output that results from increasing the production input by one unit.