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SCENARIO 10-5 To Test the Effectiveness of a Business School Preparation Course,8

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SCENARIO 10-5
To test the effectiveness of a business school preparation course,8 students took a general business test before and after the course.The results are given below.
SCENARIO 10-5 To test the effectiveness of a business school preparation course,8 students took a general business test before and after the course.The results are given below.   -Referring to Scenario 10-5,at the 0.05 level of significance,the conclusion for this hypothesis test is that there is sufficient evidence that: A) the business school preparation course does improve exam score. B) the business school preparation course does not improve exam score. C) the business school preparation course has no impact on exam score. D) no conclusion can be drawn from the information given.
-Referring to Scenario 10-5,at the 0.05 level of significance,the conclusion for this hypothesis test is that there is sufficient evidence that:


Definitions:

Elastic

Describes a situation in which the demand for a product is sensitive to price changes.

Excess Capacity

Plant resources that are underused when imperfectly competitive firms produce less output than that associated with achieving minimum average total cost.

Monopolistic Competition

An economic model describing a market structure where many companies sell products that are similar but not identical, allowing for significant control over prices and product differentiation.

Industry Output

The total production of goods and services by all firms in a specific industry over a defined period.

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