In a Two-Tailed Hypothesis Test, the Test Statistic Is Determined

question 90

Multiple Choice

In a two-tailed hypothesis test, the test statistic is determined to be z = 2.5. The p-value for this test is

• A) .9876.
• B) .4938.
• C) .0062.
• D) .0124.

---

Definitions:

Supply Decreases

A reduction in the amount of a product or service that is available for sale, often resulting in higher prices if demand remains the same.

Demand Increases

A situation in which the desire and willingness to purchase a good or service rises, often due to factors like income growth or preference changes.

Substitute Good

A good that can replace another to satisfy similar needs or desires, often influenced by changes in prices and consumer preferences.

Downsloping Demand

A situation where the demand for a good decreases as the price increases, following the typical law of demand.