Suppose We Observe That Movie Theatre Prices Are Less During

question 101

Multiple Choice

Suppose we observe that movie theatre prices are less during the daytime than in the evening.If the supply of movies does not change between daytime and evening,then the most likely explanation for this difference in price is

• A)the evening demand curve is to the left of the daytime demand curve.
• B)the evening demand curve is to the right of the daytime demand curve.
• C)the evening supply curve is to the left of the daytime supply curve.
• D)the evening supply curve is to the right of the daytime supply curve.

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Definitions:

Sign Test

A nonparametric test used to determine if there is a difference between matched or paired observations.

Distribution

Refers to the way in which data points are spread out across the range of possible values in a dataset.

Test Statistic

A computed value used to decide whether to reject the null hypothesis in statistical hypothesis testing.

P-Value

The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.