Economies of Scale Result from Actions Such as

question 90

Multiple Choice

Economies of scale result from actions such as

• A)manufacturing products in small quantities.
• B)keeping the demand high by cutting supply.
• C)creating products that are exclusive.
• D)buying inputs for the products in bulk.

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Definitions:

Standard Error

A measure that describes the distribution of sample means around the population mean, indicating the precision of the sample mean as an estimate of the population mean.

Plus Four Estimate

A method used in statistics to adjust a sample size by adding four observations: two at the high end and two at the low end of the dataset.

Sampling Variability

The natural variation in statistics (such as the mean) that occurs from one sample to another.

SRS

Simple random sampling, a basic probabilistic method ensuring each member of a population has an equal chance of being included in the sample.