The Preference of Scientists for the Theory That Makes the Fewest

question 142

Multiple Choice

The preference of scientists for the theory that makes the fewest unfamiliar or untested assumptions is known as the principle of

• A) parsimony.
• B) statistical significance.
• C) normal distribution.
• D) informed consent.

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Definitions:

Carpets Left

Refers to the quantity of carpets that remain unsold or available in inventory.

Economic Profit

The distinction between the sum of all income and the total of all expenses, encompassing both direct and indirect costs.

Fixed Costs

Costs that do not vary with the level of production or sales, including expenses like rent and salaries.

Variable Costs

Costs that vary directly with the level of production or output, such as raw materials and labor expenses.