In a Hearing Test,subjects Estimate the Loudness (In Decibels)of a Sound,and

question 27

Multiple Choice

In a hearing test,subjects estimate the loudness (in decibels) of a sound,and the results are (mean = 70) :
68,67,70,71,68,75,68,62,80,73,68
What is the standard deviation?

• A)18
• B)4.73
• C)22.40
• D)324
• E)6.76

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Definitions:

Diminishing Marginal Utility

The decrease in satisfaction or usefulness obtained from each additional unit of consumption.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, due to the availability of more desirable substitutes.

Diminishing Marginal Utility

The principle that as a person consumes more of a good, the satisfaction gained from consuming an additional unit decreases.

Comparative Advantage

The ability to produce a good at a lower opportunity cost than others can produce it. Relative costs determine comparative advantage.