Economists Build Economic Models by

question 182

Multiple Choice

Economists build economic models by

• A)generating data.
• B)conducting controlled experiments in a lab.
• C)making assumptions.
• D)reviewing statistical forecasts.

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Definitions:

System Reliability

The probability that a system will perform its intended function without failure under specified conditions for a designated period of time.

Redundant Check

A method of error detection which involves adding additional data or using duplication to ensure information accuracy and reliability.

Reliability Ratings

Measurements or estimates that indicate the dependability or consistency of a product, service, or system's performance.

6-Sigma Standards

A set of techniques and tools for process improvement that aims to reduce defects and variability in manufacturing and business processes.