A Recent Study of the Relationship Between Social Activity and Education

question 82

Multiple Choice

A recent study of the relationship between social activity and education for a sample of corporate executives showed the following results. The appropriate test to analyze the relationship between social activity and education is ________.

• A)a regression analysis
• B)an analysis of variance
• C)a contingency table analysis
• D)a goodness-of-fit test

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Definitions:

Factor Price

The price at which factors of production (land, labor, capital) are bought and sold.

Production Function

A mathematical model that describes the relationship between inputs used in production and the resulting output.

Profit-maximizing

The process or strategy of adjusting production and operations to achieve the highest possible profit under given conditions.

Fixed Factor

A resource in the production process whose quantity cannot readily be changed in the short term.