Economists

question 30

Multiple Choice

Economists:

• A)always use diagrams and tables.
• B)never use equations or diagrams.
• C)sometimes use diagrams and equations.
• D)have to use diagrams and mathematical equations all the time.

Understand the mathematical operations and transformations applied to random variables.

Apply probability theory to predict outcomes in binomial and uniform distributions.

Critically evaluate assumptions underlying statistical calculations and their implications.

Understand the concepts of expected value and its relevance in predicting future outcomes.

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Definitions:

Asch

Refers to Solomon Asch, the psychologist famous for his research on conformity, including his experiment demonstrating how group pressure can lead individuals to conform to an incorrect answer.

Straight Lines

The simplest form of lines in geometry that extend infinitely in opposite directions without curving.

Social Pressures

The influence exerted by society or social groups on individuals, encouraging them to conform to specific norms or behaviors.

Social Psychologists

Scientists who study how individuals think, feel, and behave in social contexts, including how people influence and interact with each other.