For Testing the Difference Between Two Sample Means,the Level of Measurement

question 19

Multiple Choice

For testing the difference between two sample means,the level of measurement is assumed to be

• A)nominal.
• B)ordinal.
• C)interval-ratio.
• D)any of these

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Definitions:

Dominant

In a strategic or competitive context, dominant refers to a position of advantage where an entity (such as a firm, product, or strategy) significantly outperforms or influences others.

Marginal Revenue

Marginal revenue is the additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a good or service, reflecting how total cost changes with output variation.

Monopoly

is a market structure characterized by a single seller dominating the entire market by selling a unique product or service.