A Frequency Distribution in Which Most Measurements Are Concentrated Around

question 103

Multiple Choice

A frequency distribution in which most measurements are concentrated around the mean and fall off toward the tails,and where the two sides of the distribution are symmetrical,is called a _____ distribution.

• A)normal
• B)positively skewed
• C)negatively skewed
• D)standard

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Definitions:

Marginal Cost

The rise in overall expenses associated with producing an additional unit.

Total Revenue

Total revenue is the total amount of money generated by a business from the sale of its goods or services before any costs or expenses are subtracted.

Minimum Wage

A legally established lower limit on the hourly wage that employers can pay their employees.

Perfectly Competitive

Pertains to a market condition where all participants have equal access to information and transactions, resulting in an efficient distribution of resources.