In a Sample of 10,000 Observations from a Normal Population

question 109

Multiple Choice

In a sample of 10,000 observations from a normal population, how many would you expect to lie beyond three standard deviations of the mean?

• A)None of them
• B)About 27
• C)About 100
• D)About 127

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Definitions:

Human Behavior

Human behavior refers to the range of actions and mannerisms exhibited by humans in conjunction with their environment, social structures, and culture.

Rational Decisions

Choices made based on logical reasoning and expected outcomes, considering all available information.

Impulse Buying

An unplanned decision to buy a product or service, made just before a purchase.

Behavioral Economics

The study of how psychological, social, cognitive, and emotional factors affect economic decisions and the implications for market prices, returns, and resource allocation.