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If the price of gas is expected to rise sharply in the future, all else the same, the demand for gas today will:
Test Statistic
A value calculated from sample data during a hypothesis test that is used to determine whether to reject the null hypothesis.
P-value
A measure in statistical hypothesis testing representing the probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.
Test Statistic
A value calculated from sample data that is used in a hypothesis test to decide whether to reject the null hypothesis.
P-value
The probability of observing test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.
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