Suppose Data Was Collected from Ten Women and Twelve Men

question 36

Essay

Suppose data was collected from ten women and twelve men about the length in minutes of their commute to work. The histogram for men was roughly normal, but the histogram for women was strongly skewed to the right. Explain why the t- test is not appropriate to test whether men and women have different commute times.

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Definitions:

Kinked Demand Curve

The demand curve for the cutthroat oligopolist, which is based on the assumption that competitors will match a price cut, but will not match a price increase.

Collusive Oligopoly

A market condition where a few companies or entities cooperate to restrict competition and control prices for their mutual benefit.

Price Leadership

A situation in which one company, the price leader, sets the price of goods or services within its market and other companies in the sector follow suit.

Sticky Prices

A situation where prices of goods and services are slow to change in response to changes in supply and demand or economic conditions.