The Researchers Suggested That the Time of the Second Race

question 43

Multiple Choice

The researchers suggested that the time of the second race in karting is less than during the first race because a person remembers the track. Suppose 8 adults were randomly selected. The time spent on the first and second race was recorded for each person from the sample and resulting data are given in the accompanying table. Do these data support the claim that the mean difference in time spent on the first and second race is greater than zero? Use a randomization test to select the appropriate output for one set of 1000 simulated sample differences in means and carry out a hypothesis test for a difference in means.

• A) ​ ​Since the approximate P-value is greater than , we reject H₀ for a significance level of 0.05.So the sample provides convincing evidence that the mean difference in time spent on the first and second race is greater than zero.
• B) ​ ​Since the approximate P-value is greater than , we reject H₀ for a significance level of 0.05.So the sample provides convincing evidence that the mean difference in time spent on the first and second race is greater than zero.
• C) ​ ​ Since the approximate P-value is greater than , we fail to reject H₀ for a significance level of 0.05.So the sample does not provide convincing evidence that the mean difference in time spent on the first and second race is greater than zero.
• D) ​ ​ ​ Since the approximate P-value is greater than , we fail to reject H₀ for a significance level of 0.05.So the sample does not provide convincing evidence that the mean difference in time spent on the first and second race is greater than zero.
• E) ​ ​ Since the approximate P-value is less than , we reject H₀ for a significance level of 0.05.So the sample provides convincing evidence that the mean difference in time spent on the first and second race is greater than zero.

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Definitions:

Monopolistic Competitor

A firm in a market where many competitors sell products that are differentiated from one another and hence are not perfect substitutes.

Pure Competitor

A market condition where many small firms sell identical products, and no single seller can influence the market price.

Marginal Resource Cost Curve

A graphical representation showing the change in total cost incurred by a firm when it utilizes an additional unit of an input or resource.

Competitive Labor Market

A competitive labor market is characterized by numerous employers and workers where no single entity has the power to influence wages, ensuring efficient allocation of labor.