Formulate the Indicated Conclusion in Nontechnical Terms

question 24

Multiple Choice

Formulate the indicated conclusion in nontechnical terms. Be sure to address the original claim. The owner of a football team claims that the average attendance at games is over 523, and he is therefore justified in moving the team to a city with a larger stadium. Assuming that a
Hypothesis test of the claim has been conducted and that the conclusion is failure to reject the
Null hypothesis, state the conclusion in nontechnical terms.

• A) There is sufficient evidence to support the claim that the mean attendance is less than
• 523)
• B) There is not sufficient evidence to support the claim that the mean attendance is less
• Than 523.
• C) There is sufficient evidence to support the claim that the mean attendance is greater
• Than 523.
• D) There is not sufficient evidence to support the claim that the mean attendance is greater
• Than 523.

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Definitions:

Line Segment ST

A part of a line that is bounded by two distinct end points, labeled S and T.

Unemployed Resources

Economic resources, including labor, that are not currently in use or employed in the production process.

Macroeconomic Equilibrium

A state in which aggregate supply equals aggregate demand, meaning the economy is at a balance between the total quantity of goods supplied and the total quantity of goods demanded.

Output Demanded

Refers to the quantity of goods or services that consumers and other economic agents are willing to buy at a given price.