What Is the Best Example of a Marginal Change

question 34

Multiple Choice

What is the best example of a marginal change?

• A) After graduating from university, Makena's income increases from $1000 per month to $5000 per month.
• B) In 2018 minimum wage in Saskatchewan increased from $11.4 |0 per hour to $14.00.
• C) Housing prices in an area increased by 20% when a new highway connected a small city to the provincial capital.
• D) A hard freeze wipes out half of the grape crop in Ontario and the price of Ontario wine doubles.

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Definitions:

Cohen's D

A measure of effect size indicating the difference between two means expressed in standard deviation units.

Effect

The outcome or result that is produced by a cause under study.

Type I Error

The mistaken dismissal of a valid null hypothesis, commonly known as a "false positive."

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true; often denoted by alpha.