If the Demand for Good a Increases When the Price

question 183

Multiple Choice

If the demand for good A increases when the price of good B increases, then good A and good B are:

• A) not related.
• B) both inferior goods.
• C) substitutes for each other.
• D) complements to each other.

Distinguish between different statistical tests based on data type, problem objective, and the number of categories.

Understand the role of the chi-squared goodness-of-fit test and its applications.

Grasp the concept of degrees of freedom in the context of statistical testing, particularly with the chi-squared test for normality.

Execute the goodness-of-fit test to assess sample data against a specified distribution.

---

Definitions:

Symbol

A graphical sign or character used to represent an idea, object, or operation.

Symmetry

The property of being made up of exactly similar parts facing each other or around an axis; often used in design and analysis to simplify problems and solutions.

Gray Iron

A type of cast iron known for its graphitic microstructure, offering good machinability, conductivity, and wear resistance.

Resistance

The opposition to the flow of electric current, or, in a broader sense, the opposition encountered by a force.