Using Either the Critical Value Rule or the P-Value Rule

question 5

Multiple Choice

Using either the critical value rule or the p-value rule, if a one-sided null hypothesis for a single mean cannot be rejected at a given significance level, then the corresponding two-sided null hypothesis (i.e., the same sample size, the same standard deviation, and the same mean) will ________ be rejected at the same significance level.

• A) always
• B) sometimes
• C) never

---

Definitions:

Equilibrium Price

The cost at which the amount of a product available matches the amount of the product desired.

Price Ceiling

A government-imposed limit on how high the price of a product can be charged in the market, usually to protect consumers.

Legal Minimum

A legally established lower boundary on the price at which a good or service can be sold in the market.

Market Price

The contemporary price point at which goods or services can be transacted in a trading space.