Determine the Decision Criterion for Rejecting the Null Hypothesis in the Given

question 66

Multiple Choice

Determine the decision criterion for rejecting the null hypothesis in the given hypothesis test; i.e., describe the values of the test statistic that would result in rejection of the null hypothesis.
-Suppose you wish to test the claim that $\mu _ { \mathrm { d } }$ , the mean value of the differences $\mathrm { d }$ for a population of paired data, is different from 0 . Given a sample of $\mathrm { n } = 23$ and a significance level of $\alpha = 0.05$ , what criterion would be used for rejecting the null hypothesis?

• A) Reject null hypothesis if test statistic \(> 2.074\) or \(< - 2.074\).
• B) Reject null hypothesis if test statistic \(> 2.069\) or \(< - 2.069\).
• C) Reject null hypothesis if test statistic \(> 1.717\) or \(< - 1.717\).
• D) Reject null hypothesis if test statistic \(> 1.717\).

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Definitions:

Import Tariffs

Taxes imposed by a government on goods brought into its jurisdiction from foreign countries, typically used to protect domestic industries.

Consumer Surplus

The distinction between what consumers are willing and financially capable of paying for a product or service, and the actual expenditure.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.

Import Quota

A government-imposed limit on the quantity or value of goods that can be imported into a country, often used to protect domestic industries.