If We Are Testing for the Difference Between the Means

question 138

Multiple Choice

If we are testing for the difference between the means of 2 independent populations presuming equal variances with samples of n₁ = 20 and n₂ = 20, the number of degrees of freedom is equal to

• A) 39.
• B) 38.
• C) 19.
• D) 18.

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Definitions:

Diminishing Marginal Utility

Diminishing Marginal Utility is an economic concept stating that as a person consumes more of a good or service, the satisfaction (utility) gained from consuming each additional unit decreases.

Total Utility

The total satisfaction or benefit that a person receives from consuming a given total quantity of a good or service.

Budget Constraint

The limitations on the consumption bundles that a consumer can afford with a limited budget at given prices.

Utility

In economics, a measure of satisfaction or enjoyment obtained from consuming goods and services.