I If the Null Hypothesis States That There Is No

question 47

Multiple Choice

i. If the null hypothesis states that there is no difference between the mean income of males and the
Mean income of females, then the test is one-tailed.
ii. If we are testing for the difference between two population means, it is assumed that the sample
Observations from one population are independent of the sample observations from the other
Population.
iii. The critical value of t for the claim that the difference of two means is less than zero with a level
Of significance of 0.025 and sample sizes of nine and seven, is -2.179.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (ii) is a correct statement but not (i) and (iii).

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Definitions:

Cost-Justified

A determination that an expense, investment, or action is deemed reasonable or worthwhile based on its cost.

Robinson-Patman Act

is a United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Producer Surplus

The disparity between what sellers are prepared to accept for a product or service and the amount they actually get.