State Whether You Think the Difference Between What Occurred and What

question 251

Multiple Choice

State whether you think the difference between what occurred and what you would expect by chance is statisticallysignificant.
-Of the people taking the medication, 38 out of 100 noticed improvement in their arthritis. Of the people taking the placebo, 35 out of 100 noticed improvement in their arthritis.

• A)Statistically significant
• B)Not statistically significant

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Definitions:

Marginal Propensity

The proportion of an additional income that an individual is likely to consume rather than save.

Saving

The portion of income that is not spent on consumption but is kept aside for future use, investments, or emergencies.

Disposable Income

Income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.

Consumption Spending

The total money spent by households in an economy on goods and services.