Average Revenue Is

question 309

Multiple Choice

Average revenue is

• A)the typical or average sales generated for all items within an industry.
• B)the average amount of revenue necessary for a business to remain profitable.
• C)total revenue divided by the quantity sold.
• D)the difference between the highest and lowest price charged for a given item within a specific firm.
• E)the difference between the highest and lowest price charged for a given item within a specific industry.

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Definitions:

Reliable

Reliable refers to the consistency of a measure or process over time. In research, it means that the results of a study or the performance of an instrument are consistent and can be replicated under similar conditions.

Test-Retest

A method of measuring the reliability of a test by administering the same test to the same subjects at two points in time and comparing the results.

Internal Consistency

A measure of the reliability of a test or scale, indicating how closely related a set of items are as a group.

Cronbach's Alpha

A measure used in statistics to assess the reliability, or internal consistency, of a set of scale or test items.