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SCENARIO 12-13
Recent studies have found that American children are more obese than in the past. The amount of time children spent watching television has received much of the blame. A survey of 100 ten-yearolds revealed the following with regards to weights and average number of hours a day spent watching television. We are interested in testing whether the mean number of hours spent watching TV and weights are independent at 1% level of significance.
-Referring to Scenario 12-12,how many children in the survey spent less than 2 hours watching TV and more than 2 hours reading story books on average?
Complementary Goods
Products or services that are typically consumed together, where the increase in demand for one leads to an increase in demand for the other.
Substitute Goods
Products or services that can be used in place of each other, where the increase in the price of one leads to an increase in demand for the other.
Independent Goods
Products whose demand is not influenced by the price or availability of other goods.
Substitute Goods
Products or services that can be used in place of each other, serving similar needs or purposes for consumers.
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