If an Economist Wishes to Determine Whether There Is Evidence

question 84

Multiple Choice

If an economist wishes to determine whether there is evidence that average family income in a community exceeds $25,000

• A) a one-tailed test should be utilized.
• B) either a one-tailed or two-tailed test could be used with equivalent results.
• C) a two-tailed test should be utilized.
• D) none of the above

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Definitions:

Bearer Instrument

A financial document that entitles the holder or bearer to the rights or assets it represents, without the need to prove ownership.

Signature

A person's handwritten mark or sign, typically used for authorization or as a form of identification in documents.

Primarily Liable

Being directly responsible or obligated to satisfy a debt or legal obligation, especially before any other party.

Right To Reimbursement

The legal right of a party to be compensated for expenses they have incurred on behalf of another party.