During the Great Canal-Building Era,from Roughly 1815 to 1843,Hughes and Cain

question 7

Multiple Choice

During the great canal-building era,from roughly 1815 to 1843,Hughes and Cain (2011) claim that

• A) most canals earned normal profits.
• B) no canals earned profits.
• C) all canals in the initial period of construction earned normal profits but none did in the later period because of over-construction and competition from the railroads.
• D) the Erie Canal was one of the few, perhaps the only one, to earn normal profits.

---

Definitions:

Outliers

Data points that differ significantly from other observations in a data set, possibly indicating a variable error or an unusual event.

Sample Proportion

The ratio of participants or units in a sample exhibiting a particular characteristic to the total sample size, often used in statistical analysis.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data points, calculated as the square root of the variance.

Variance

A measure of the spread or dispersion of a set of data points, indicating how much the data varies from the average of that set.