FIGURE 3-4 Refer to Figure 3-4

question 43

Multiple Choice

FIGURE 3-4 Refer to Figure 3-4.If the price of 1-bedroom apartments in Collegetown were $600,there would be a ________ of ________ apartments.

• A)surplus; 100
• B)shortage; 50
• C)shortage; 100
• D)surplus; 50
• E)surplus; 150

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Definitions:

Significance Level

A threshold set by researchers in hypothesis testing that determines the probability of rejecting a true null hypothesis, often denoted by alpha (α).

Rejection Region

The region in the sampling distribution of a statistic that leads to the rejection of the null hypothesis.

Test Statistic

A value calculated from sample data during a hypothesis test, used to decide whether to reject the null hypothesis.

Statistical Evidence

Data or information collected and analyzed to support or refute a hypothesis, often derived from statistical tests.