To Convert a Normally Distributed Variable X into a Standard

question 79

Multiple Choice

To convert a normally distributed variable X into a standard Z score we would:

• A)subtract the mean from the original observation and divide the result by the variance.
• B)subtract the mean from the original observation and divide the result by the standard deviation.
• C)add the mean and the original observation, then divide by the variance.
• D)subtract the mean from the standard deviation and divide by the variance.

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Definitions:

Dominant Strategy

A strategy that is best for a player in a game regardless of the strategies chosen by the other players.

Sherman Antitrust Act

A landmark 1890 U.S. legislation aimed at prohibiting monopolies and other practices that restrained competition and trade.

Fixing Prices

The practice of setting the price of a product or service, rather than allowing it to be determined naturally through free-market forces.

Oligopoly Outcome

In markets dominated by a small number of firms (an oligopoly), the outcome often includes non-price competition, strategic interactions, and potentially higher prices and lower outputs than in competitive markets.