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Identify the test statistic that should be used for testing the following given claims. a. The mean of the differences between IQ scores of brothers and IQ scores of their sisters is
equal to 0.
b. The proportion of offices with windows is equal to the proportion of offices without
windows.
c. The variation among temperature inside buildings in winter is equal to the variation in the
temperature inside building in summer.
d. The mean age of female math professors is equal to the mean age of male math professors.
Product-Variety Externalities
Economic externalities that arise when the introduction of new products benefits consumers by providing a wider array of choices, potentially affecting their utility and the demand for various goods.
Business-Stealing
The negative impact on existing firms when new entrants to the market capture some of their market share, leading to potentially lower profits for the incumbents.
Long Run Entry
The process by which new firms enter a market, adjusting the supply side of the market, typically considering all factors of production as variable.
Social Welfare
Programs and policies designed to enhance the well-being of individuals and communities, often through provision of health, education, and financial support.
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