I the Normal Curve Falls Off Smoothly in Either Direction

question 99

Multiple Choice

i. The normal curve falls off smoothly in either direction from the central value. Since it is asymptotic, the curve gets closer and closer to the X-axis, but never actually touches it. ii. The mean (µ) divides the normal curve into two identical halves.
iii. The number of different normal distributions is unlimited.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Small Firms

Small firms are businesses with a relatively small number of employees, limited revenue, and a localized operational base, often contributing significantly to innovation and employment.

Economies of Scale

Cost benefits that companies gain from their operation size, where the cost for each unit of production typically falls as the scale expands.

Constant Returns to Scale

A situation in production where increasing all inputs by a certain factor results in output increasing by the same factor.

Average Total Cost

The total cost divided by the quantity of output produced; it includes all variable and fixed costs.