The "Administrative" Version of Utilitarianism Considers Competitive Markets to Be

question 15

True/False

The "administrative" version of utilitarianism considers competitive markets to be the most efficient means of maximizing happiness.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual values deviate from the mean of the values.

Mean

The arithmetic average of a set of numbers, calculated by summing them all up and dividing by the number of numbers.

Population Parameters

Characteristics that summarize or describe aspects of a population, such as mean, variance, or median.

N - 1 Adjustment

A statistical method used to correct the bias in the variance estimate of a sample.