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A Network Externality Is an External Cost or Benefit Generated

question 8

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A network externality is an external cost or benefit generated from the


Definitions:

Mode

The most frequent score.

Median

The median is a measure of central tendency that divides a data set into two equal halves, representing the middle value when the data set is ordered.

Normal Distribution

A distribution of scores in which most people score in the middle and fewer score at the extremes; also known as a “bell curve.”

Bell Curve

A graphical representation of a normal distribution of data, characterized by a symmetric, bell-shaped curve.

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