If Income Increases by $100 and the MPS Is 1/4,then

question 150

Multiple Choice

If income increases by $100 and the MPS is 1/4,then the additional amount saved equals

• A)$50
• B)$75
• C)$25
• D)$100
• E)$33.33

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Definitions:

Scale of Measurement

A system that specifies the nature of the relationship among values assigned to objects or individuals based on properties.

Achievement Test Scores

Quantitative measures of an individual's knowledge or proficiency in a particular subject or skill area, derived from standardized tests.

Standard Deviation

A measure used in statistics to quantify the amount of variation or dispersion of a set of values.

Percentile Rank

A score that indicates the percentage of scores in its frequency distribution that are equal to or below it.