If You Find the Difference of Each Score from the Mean

question 78

Short Answer

If you find the difference of each score from the mean of a set of data,square each difference,and then add these squared deviations,average them,and take the square root of this average,you will obtain the __________.

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Definitions:

Opportunity Cost

Opportunity cost is the loss of potential gain from other alternatives when one alternative is chosen.

Consumer Surplus

The separation between the total amount consumers are equipped and willing to pay for a good or service and what is effectively paid.

Total Surplus

The sum of consumer and producer surplus, reflecting the total benefit to society from the production and consumption of goods and services.

Consumer Surplus

The split between the maximum total consumers are prepared to pay for a product or service and the actual payment.