To Use the Z Test, _________

question 10

Multiple Choice

To use the z test, _________.

• A) µ and s must be specified
• B) the sampling distribution of should be normal
• C) the population of raw scores must be normally distributed
• D) and s must be specified and the sampling distribution of should be normal

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Definitions:

Hypothetical Consumer

An assumed average consumer used in economic and marketing models to predict the behavior of consumer populations.

Utility-Maximizing

A principle in economics whereby individuals seek to optimize their satisfaction or happiness through the consumption of goods and services.

Total Product Curve

A graphical representation showing how the quantity of output depends on the quantity of a variable input, holding all other inputs fixed.

Average Product

Calculating the efficiency of input by dividing the entire production by the volume of input.