If You Wish to Determine Whether There Is Evidence That

question 33

Multiple Choice

If you wish to determine whether there is evidence that the proportion of items of interest is higher in group 1 than in group 2,the appropriate test to use is

• A)the Z test for the difference between two proportions.
• B)the F test for the ratio of variances.
• C)the pooled-variance t test for the difference between two proportions.
• D)the F test for the difference between two proportions.

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Definitions:

Equilibrium Price

The equilibrium price where the supply of goods meets the demand for those goods in the marketplace.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market price.

Simultaneous Decrease

A situation where two or more economic variables or quantities decline at the same time.

Demand Curve

The Demand Curve is a graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.