The Larger the Standard Deviation of a Set of Scores

question 74

Multiple Choice

The larger the standard deviation of a set of scores the more ______the scores are from one another.

• A) packed in
• B) narrow
• C) closer
• D) spread out

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Definitions:

Short Run

A period in which at least one factor of production is fixed and cannot be varied by the firm.

Long Run

A period sufficient for all inputs in production to be adjusted, including physical capital and labor.

Allocative Efficiency

Allocative Efficiency occurs when resources are distributed in a way that maximizes the net benefit to society, ensuring that the right goods are produced to meet consumer preferences.

Productive Efficiency

A situation where an economy or a production process is operating in such a way that it could not produce more of one good without producing less of another.