The Variance of a Distribution of Means Is Smaller Than

question 62

Multiple Choice

The variance of a distribution of means is smaller than the original population variance because

• A)it is based on fewer individuals than is the original population.
• B)it is an estimate of the sample parameters rather than of the original population.
• C)extreme scores are less likely to affect a distribution of means.
• D)the mean of a distribution of means is so different than the population mean.

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Definitions:

Short-Run Supply Curve

A graphical representation showing the quantity of a good that producers are willing and able to supply at different prices in the short term, holding some factors constant.

Market Supply Curve

Represents the total quantity of a good that sellers are willing to sell across all price points in a given market.

Cotton Producer

An entity or individual engaged in the cultivation and production of cotton.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.