Each Value in a Data Set May Be Referred to as Either

question 7

Multiple Choice

Each value in a data set may be referred to as either a data value or a(n) ____________.

• A) subdata
• B) datum
• C) atom
• D) point

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Definitions:

Individual Preferences

The specific likes, dislikes, desires, and needs that dictate the choices made by an individual, often influencing economic decisions and behaviors.

Majority Rule

A decision rule that selects alternatives which have a majority, that is, more than half the votes.

Logrolling

The practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

Public Choice

A field of economics that applies economic methods to the study of political and administrative decision-making.