Statistical Methods That Generally Require Very Few, If Any, Assumptions

question 33

Multiple Choice

Statistical methods that generally require very few, if any, assumptions about the population distribution are known as

• A)parametric
• B)nonparametric
• C)free methods
• D)None of these alternatives is correct.

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Definitions:

Consumer Equilibrium

In marginal utility theory, the combination of goods purchased that maximizes total utility by applying the utility-maximizing rule.

Prices

The amount of money required to purchase a good or service, often determined by the forces of supply and demand in the market.