Dividing the Total Benefit of N Units of an Activity

question 37

Multiple Choice

Dividing the total benefit of N units of an activity by N quantifies the

• A) average benefit.
• B) marginal benefit.
• C) average cost.
• D) units per benefit.
• E) additional benefit.

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Definitions:

Ratio Scale

A quantitative scale of measurement that includes a defined zero point, equal intervals, and the ability to express quantities as multiples of one another.

A Process

A sequence of measures or procedures followed to attain a specific goal.

Population

In statistics, a population refers to the entire group of individuals or instances about whom we wish to draw conclusions.

MAX(range)

It is a function used in mathematics and programming to find the largest number in a given set or range of values.