The Information Below Shows the Summary Statistics of Data Adapted

question 122

Multiple Choice

The information below shows the summary statistics of data adapted from Statistics Canada, regarding gasoline prices from urban cities across Canada. (i) This data is based on values from 17 cities.
(ii. The average gas price in 2013 across the country based on this sample was $1.2356
(iii) 50% of the cities reported average gas prices over $1.23 per litre

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements but not (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.

---

Definitions:

Moral Hazard

The risk that a party to a transaction has not entered into the contract in good faith, or has an incentive to take unusual risks in a desperate attempt to earn a return before the contract settles.

Contract Changes

Amendments or modifications to the terms and conditions of an existing agreement.

Behavior Cost

The non-financial costs associated with actions or decisions, including effort, time, and opportunity costs that impact individuals' or companies' behaviors.

Market Signal

Information that is passed on to the market which, intentionally or unintentionally, conveys messages to buyers and sellers.