Two Independent Samples of Sizes 20 and 25 Are Randomly

question 37

Short Answer

Two independent samples of sizes 20 and 25 are randomly selected from two normal populations with equal variances. In order to test the difference between the population means, the test statistic is: $\begin{array}{|l|l|}\hline A&\text {a standard normal random variable. }\\\hline B&\text { approximately standard normal random variable.}\\\hline C&\text {Student \( t \) distributed with 45 degrees of freedom. }\\\hline D&\text {Student \( t \) distributed with 43 degrees of freedom. }\\\hline\end{array}$

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Definitions:

Gasoline Consumption

The total amount or volume of gasoline used by consumers or industries within a given period.

Market Adjustment

The process by which market forces of supply and demand determine prices and quantity of goods and services, leading to an equilibrium state.

Price-taker Market

A market situation where individual sellers or buyers have no control over the price of a product, typically seen in perfectly competitive markets.

Long-run Equilibrium

This is a condition where all factors of production and outputs in an economy or market are optimized and can vary to reach a state of general equilibrium.