Lamont Took a Psychology Exam Whose Mean Was 70 with Standard

question 112

Multiple Choice

Lamont took a psychology exam whose mean was 70 with standard deviation 5.He also took a calculus exam whose mean was 80 with standard deviation 10.He scored 85 on both exams.On which exam did he do better compared to the other students who took the exam?

• A)He did better on the psychology exam,comparatively speaking.
• B)He did better on the calculus exam,comparatively speaking.
• C)He did the same on both exams,relatively speaking.
• D)Cannot tell without more information.

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Definitions:

Economic Profits

Profits calculated by subtracting both the explicit and implicit costs of production from total revenues.

Monopolistically Competitive

Describes a market type where numerous sellers offer differentiated products, leading to competitive yet non-homogeneous markets.

Equilibrium

A condition where the supply and demand in the market are equal, leading to steady prices and amounts.

AVC

Average Variable Cost, which calculates the variable costs per unit of output, encompassing costs that change with the level of output.