A Study Is Under Way to Determine the Average Height

question 13

Multiple Choice

A study is under way to determine the average height of all 29,000 adult pine trees in a certain national forest.The heights of 600 randomly selected adult pine trees are measured and analyzed.The parameter in the study is:

• A)the average height of the 600 randomly selected adult pine trees.
• B)the average height of all the adult pine trees in this forest.
• C)all the adult pine trees in this forest.
• D)the 600 adult pine trees selected at random from this forest.

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Definitions:

Rational Self-Interest

The principle that individuals tend to make decisions that maximize their own utility or benefit.

Collude

To conspire or work together secretly, especially in order to cheat or deceive others.

Dutch Auction

A type of auction where the auctioneer starts with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined minimum price is reached.

Sealed-Bid Auction

A type of auction where all bidders simultaneously submit sealed bids without knowing the bids of other participants.