If the Standard Deviation in a Sample Is 4 and the Sample

question 15

Multiple Choice

If the standard deviation in a sample is 4 and the sample size is 49,then the standard error of the mean is ______.

• A)about 0.29
• B)about 0.08
• C)about 12.25
• D)about 0.92

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Definitions:

Fixed Costs

Costs that do not vary with the volume of production or sales, such as rent, salaries, and insurance.

Demand

The desire and ability of consumers to purchase goods or services at a given price.

Fixed Costs

Costs that do not vary with the level of output or sales, such as rent, salaries, and insurance premiums, remaining constant regardless of business activity.

Marginal Costs

The expense incurred by manufacturing an extra unit of a product or service.