Use the Following to Answer Question

question 21

Multiple Choice

Use the following to answer question:
-(Table: Street Cleanings) Use Table: Street Cleanings.Suppose that the marginal cost of each street cleaning is $18.Which statement is TRUE?

• A)If the city decided to clean the streets only once per month,Peter would be willing to pay the entire cost of the cleaning.
• B)If the city decided to clean the streets only once per month,Wendy would be willing to pay the entire cost of the cleaning.
• C)If Wendy and Peter were the only people in society,the efficient number of street cleanings would be one per month.
• D)If Wendy and Peter were the only people in society,the efficient number of street cleanings would be at least two per month.

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Definitions:

Type I Error

The error that occurs when the null hypothesis is incorrectly rejected, falsely indicating a significant effect.

Type II Error

Occurs when a false null hypothesis is not rejected, meaning an effect or difference is missed in the analysis.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, used as the basis for statistical testing.

Type I Error

The incorrect rejection of a true null hypothesis, often denoted as a false positive.