If We Observe That When a Consumer's Income Rises by 10

question 4

True/False

If we observe that when a consumer's income rises by 10%, the quantity demanded of chocolate candy bars increases by 15%, then chocolate candy bars are are a normal good for that consumer.

Calculate the minimum sample size required for testing hypotheses about means with specific confidence levels and margins of error.

Apply and interpret the Sign Test for non-parametric inference about median differences.

Understand and apply hypothesis testing for comparing means between two groups.

Interpret confidence intervals in the context of the difference between two population means.