The Central Limit Theorem (CLT)is Generally Valid For

question 31

Multiple Choice

The Central Limit Theorem (CLT) is generally valid for:

• A) n > 5
• B) n > 10
• C) n > 20
• D) n > 30
• E) any size n

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Definitions:

Marginal Utility

The increased happiness or advantage derived from the consumption of one extra piece of a good or service.

Total Utility

The full pleasure gained by using a particular volume of goods or services.

Marginal Utility

The increased enjoyment or advantage gained by a consumer from acquiring one more unit of a particular good or service.

Utility Schedule

A table or graph showing the level of satisfaction or utility that a consumer derives from consuming different quantities of a good or service.