Capital Is the Only Factor Input That Is Sentient

question 21

Short Answer

Capital is the only factor input that is sentient.

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Definitions:

Probability

A numerical representation, ranging from 0 to 1, indicating the probability of an event's occurrence.

Explanatory Variable

An explanatory variable is a type of independent variable that is used to explain variations in the dependent variable.

Statistical Inference

The process of drawing conclusions about a population's characteristics based on a sample drawn from it.

Z Statistic

A type of test statistic used in standard normal distribution to determine the number of standard deviations a data point is from the mean.