Use This Information for the Following Question

question 154

Multiple Choice

Use this information for the following question.The following descriptive statistics are given for an educational psychology examination administered to 323 students (N) .There were 60 multiple-choice items (k) on this test.The items in this set are classified as Use of Knowledge (U) items.
Descriptive Statistics

-A raw score of 33 places a student one standard deviation below the mean.

• A)The conclusion in this item's statement is NOT supported by the above data.
• B)The conclusion in this item's statement is supported by the above data.
• C)There are insufficient data presented to warrant this conclusion.

---

Definitions:

Price

The amount of money required to purchase a good or service, reflecting its value in the marketplace.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit from the market.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.