Suppose the U

question 127

Multiple Choice

Suppose the U.S.dollar is defined by law as being equal to 0.1 ounce of gold.Further suppose the British pound is defined as being equal to 0.05 ounce of gold.The implied exchange rate between the pound and the dollar is

• A)A flexible rate at which $1 = 2 pounds.
• B)A fixed rate at which $1 = 2 pounds.
• C)A fixed rate at which $2 = 1 pound.
• D)A flexible rate at which $2 = 1 pounD.One could take a dollar and use it to get .1 ounce of gold,then take the .1 ounce of gold and exchange it for 2 British pounds; therefore the implied exchange rate between the pound and the dollar is $1 = £2.

---

Definitions:

Variable

A component, attribute, or aspect that has the potential to change or fluctuate.

Experimental Unit

The smallest unit or individual component to which a treatment or condition can be assigned in an experiment.

Quantitative Variable

A variable that quantifies an element or attribute and can be counted or measured, allowing for numerical representation and analysis.

Shape Of The Distribution

The form or appearance of the graphed data, which can include characteristics like symmetry, skewness, peakedness, and the presence of outliers.