An Industry with a Herfindahl-Hirschman Index of 5,000 Would Have

question 5

Multiple Choice

An industry with a Herfindahl-Hirschman index of 5,000 would have ____ firm(s) .

• A)1
• B)2
• C)5
• D)10
• E)50

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Definitions:

Weighted Mean

The mean of a data set that accounts for the importance or weight of each value.

Population Parameter

A numerical value that describes a characteristic of an entire population, such as its mean or standard deviation.

Sample Statistic

A numerical measure that describes some characteristic of a sample, such as the sample mean or sample standard deviation.

50th Percentile

Also known as the median, it is the value below which 50% of the observations in a group of data fall.