A Result That Is Significant at the

question 240

Multiple Choice

A result that is significant at the .05 level indicates that:

• A) the result was obtained purely by chance and is not real.
• B) the probability that the result is due to real differences between groups is .05.
• C) there is a positive relationship between variables.
• D) the probability that the result occurred by chance is low, and therefore the result is probably real.

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Definitions:

Trade

The exchange of goods and services between individuals or entities, either within the same country or internationally.

Budget Line

A graphical representation showing all possible combinations of two goods that can be purchased given a consumer's income and the prices of the goods.

Price

The sum of money anticipated, needed, or provided as payment for an item.

Shift Outward

An economic term referring to the expansion of a production possibility frontier, indicating an increase in an economy's capacity to produce.