To Say That Test Scores Are Normally Distributed Around the Average

question 175

Multiple Choice

To say that test scores are normally distributed around the average score means that

• A) most people score in the average range and few people score very high or very low.
• B) there are equal numbers of low, average, and high scores.
• C) scores obtained on repeated testing sessions are fairly consistent.
• D) the test is a good measure of the trait that it is supposed to be measuring.

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Definitions:

AVC

Average Variable Cost refers to the total of all variable expenses incurred, divided by the total number of units produced.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing the total financial gain of a business.

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, allowing some degree of pricing power and market segmentation.

AVC

Average Variable Cost (AVC) is the total variable costs of production divided by the quantity of output produced, representing the variable cost per unit.