Suppose You Observe That Fares Per Trip for the Uber

question 90

Multiple Choice

Suppose you observe that fares per trip for the Uber share-riding service increased when more commuters called the Uber service. Which of the following is the best possible explanation?

• A)The law of demand was violated.
• B)The law of supply was violated.
• C)The price of gasoline went up.
• D)People were irrational.
• E)Commuters did not have any choice.

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Definitions:

Populations

The entire group of individuals or items of interest in a statistical study.

Critical Value

A point on the scale of a statistical distribution that corresponds to a specified level of significance for hypothesis testing.

Null Hypothesis

A hypothesis in statistical analysis that suggests no significant difference or effect; it's the default position that there is no association between two measured phenomena.

Mean Square

A statistical measure used particularly in ANOVA, calculated by dividing the sum of squares by its degrees of freedom.