Which of the Following Is True When Using the Empirical

question 101

Multiple Choice

Which of the following is true when using the empirical rule for a set of sample data?

• A)Almost all observations are in the interval .
• B)Approximately 68% of all observations are in the interval .
• C)Approximately 95% of all observations are in the interval .
• D)Approximately 68% of all observations are in the interval

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Definitions:

Marginal Utility

The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.

Consumer Equilibrium

A state in microeconomics where a consumer achieves the highest satisfaction possible, given their income constraints and prices of goods and services.