Exhibit 10-3 A Statistics Teacher Wants to See If There Is Any

question 51

Multiple Choice

Exhibit 10-3
A statistics teacher wants to see if there is any difference in the abilities of students enrolled in statistics today and those enrolled five years ago. A sample of final examination scores from students enrolled today and from students enrolled five years ago was taken. You are given the following information.
-Refer to Exhibit 10-3. The p-value for the difference between the two population means is

• A).0013
• B).0026
• C).4987
• D).9987

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Definitions:

Scarce Resources

Natural, human, and capital resources that are limited in supply, which necessitates choices about how they are allocated.

Unlimited Wants

The economic principle that humans have infinite desires or wishes for goods and services, despite having limited resources.

Decision Makers

Individuals or entities in a position of authority who make choices that determine the course of actions to be followed, often affecting outcomes in business or organizational settings.

Secondary Effects

Unintended consequences of economic actions that may develop slowly over time as people react to events.