Which of the Following Is Required to Locate Proportions of Area

question 16

Multiple Choice

Which of the following is required to locate proportions of area under the normal curve?

• A) compute a z-transformation
• B) find the probability of a z score in the unit normal table
• C) compute a z-transformation and find the probability of a z score in the unit normal table
• D) none of these

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Definitions:

Diminishing Marginal Utility

Declining utility, or satisfaction, derived from each additional unit consumed of a particular good or service.

Consumer Surplus

The variance between the total price consumers are inclined and financially capable of paying for a good or service and the amount they actually dispense.

Marginal Utility

The extra utility or satisfaction derived from using or consuming one additional unit of a good or service beyond what was previously consumed.

Total Utility

The total satisfaction received from consuming a particular amount of goods or services.