If One Intends to Compare the Relative Variation Between Two

question 18

Multiple Choice

If one intends to compare the relative variation between two samples involving two different quantitative variables with different measurement scales,then the most appropriate way is to compare the __________ from the two samples.

• A)standard deviations
• B)variances
• C)coefficients of variation
• D)ranges
• E)interquartile ranges

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Definitions:

Cost Curve

A graphical representation that shows the relationship between the total cost incurred by a firm and the level of output produced.

Average Total Cost

The cost per unit of output, found by dividing the total cost (fixed plus variable) by the number of units produced.

Cigars

Rolled bundles of dried and fermented tobacco leaves designed to be smoked.

ATC and MC Curves

Graphs in economics that represent a firm's average total costs (ATC) and marginal costs (MC) at different levels of production.