Data Were Collected on Annual Personal Time (In Hours) Taken

question 8

Multiple Choice

Data were collected on annual personal time (in hours) taken by a random sample of 16 women and 20 men employed by a medium-sized company.The women took an average of 24.75 hours of personal time per year with a standard deviation of 2.84 hours.The men took an average of 20.5 hours of personal time per year with a standard deviation of 2.75 hours.If we use the pooled t-test to see if there is a difference between the two groups, the degrees of freedom for the appropriate t-statistic is ________________________ .

• A)36
• B)34
• C)20
• D)16
• E)None of the above.

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Definitions:

Resource

An economic or productive factor required to accomplish an activity, or to provide a benefit to the economy, such as raw materials, labor, and capital.

High Demand

A situation in which the desire for a product or service exceeds the available supply, often leading to higher prices.

Low Demand

A situation where the desire or need for a particular product or service is less than the supply available.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and very easy entry and exit from the market.