The T-Statistic Has the Following Distribution: A $n < 15$ B Student

question 43

Short Answer

The t-statistic has the following distribution: a. standard normal distribution for $n < 15$
b. Student $t$ distribution with $n$ -1 degrees of freedom regardless of the distribution of the $Y$ .
c. Student $t$ distribution with $n$ -1 degrees of freedom if the $Y$ is normally distributed.
d. a standard normal distribution if the sample standard deviation goes to zero.

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Definitions:

Minimum Possible Average Cost

The lowest average cost at which a firm can produce its output in the long run, given its technology and factor prices.

Barriers to Entry

Factors that make it difficult or costly for new firms to enter and compete in an industry, such as high startup costs or strict regulations.

Pure Monopoly

A market structure where a single supplier controls all production and sale of a particular good or service, with no close substitutes.