THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 279

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sample of 33 students was asked to rate themselves on whether they were outgoing or not using this five point scale: 1 = extremely extroverted,2 = extroverted,3 = neither extroverted nor introverted,4 = introverted,or 5 = extremely introverted.The results are shown in the table below:

-Calculate the sample mean.

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Definitions:

Reflexive Preferences

A concept in economics indicating that individuals prefer goods or scenarios that reflect their own preferences or identities.

Indifference Curves

Indifference curves are graphical representations in microeconomics, showing combinations of two goods between which a consumer is indifferent, reflecting preferences.

Formula

A mathematical expression that calculates or describes a relationship among different variables.

Marginal Rate

The rate at which one variable changes as another variable changes marginally or slightly.