If the Standard Deviation of Household Income for a Sample

question 4

Multiple Choice

If the standard deviation of household income for a sample of 625 households is $8,000,what is the standard error of the mean?

• A)$320
• B)$625
• C)$8,000
• D)$80
• E)$25

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Definitions:

Economies of Scale

Cost advantages that a business can achieve due to expansion and increased production volume, leading to lower per-unit costs.

Unfriendly Merger

A takeover or merger which is not supported or welcomed by the target company's management and board of directors.

Preemptive Merger

A strategic merger aimed at preventing potential competition by acquiring or merging with a competitor before they become a larger threat.

Justice Department

A government department responsible for the enforcement of the law and administration of justice.