Which of the Following Gives the Best Explanation for Why

question 57

Multiple Choice

Which of the following gives the best explanation for why it would be advantageous to convert the following scores to ordinal data?

• A)Because the data are normally distributed.
• B)Because the data are split into two groups.
• C)Because there is an outlier in the data for Group 2.
• D)Because parametric tests are always preferred to nonparametric tests.

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Definitions:

Marginal Cost

The additional cost incurred in the production of one more unit of a good or service.

Marginal Product

The additional output that is produced by employing one more unit of a particular input, while holding other inputs constant.

Fixed Cost

A financial outlay that is unaffected by variations in the production or sales levels of goods and services.

Marginal Cost

The expense associated with creating an extra unit of a product or service.