A Statistical Technique That Describes Two or More Variables Simultaneously

question 28

Multiple Choice

A statistical technique that describes two or more variables simultaneously and results in tables that reflect the joint distribution of two or more variables that have a limited number of categories or distinct values is called ________.

• A) cross-tabulation
• B) regression analysis
• C) frequency distribution
• D) random sampling
• E) binary regression

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Definitions:

Irrational Choice

Making decisions that go against or do not align with the rational decision-making model, often leading to less optimal or desirable outcomes.

Parallel Shift

occurs when a graph's curve moves left or right without changing its shape, often used in reference to demand or supply curves.

Relative Prices

The price of one good or service compared to another, reflecting its scarcity or value in exchange.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, highlighting the trade-offs in consumption preferences.