If the Result of a One-Sample T Test Is Reported

question 7

Multiple Choice

If the result of a one-sample t test is reported as t(49) = 2.329, p < .05, then you know that.

• A)the critical value of t was 2.329
• B)the alpha level was less than .05
• C)the sample size was 49
• D)none of the above

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a specific price level.

Equilibrium

A market condition in which the equilibrium of supply and demand leads to price stability.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand, thus balancing supply and demand.

Surplus

A situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price, often leading to a decrease in price.