The Best Technology Is

question 87

Multiple Choice

The best technology is:

• A) the technology that is cutting-edge technology.
• B) the technology that will maximize a business's average cost of production.
• C) the technology that is the most diffused throughout the economy.
• D) the technology that requires the fewest resources to produce a good.

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Definitions:

Error Mean Square

A measure used in statistics to quantify the average of squares of errors or deviations.

Sums of Squared Deviations

The total of the squared differences between each observation in a data set and the mean of that data set, used in various statistical methods to measure variability.

Sample Mean

The average value calculated from a subset (sample) of a population.

ANOVA Table

A table used to summarize the results and findings of an Analysis of Variance, displaying sources of variance, degrees of freedom, and significance levels.