In Formulating the Null and Alternative Hypothesis, Which of the Following

question 174

Multiple Choice

In formulating the null and alternative hypothesis, which of the following would be an acceptable null hypothesis?

• A) The population mean is greater than 20.
• B) The population mean is smaller than 20.
• C) The population mean is equal to 20.
• D) The population mean is not equal to 20.
• E) None of these.

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Definitions:

Quota Limit

A restriction on the amount or number of a particular good that can be imported or exported.

Ceiling Price

It is a legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.

Demand Price

The maximum price at which a consumer is willing to buy a specific quantity of a good.

Binding Quota

A limit on the quantity of goods that can be imported or exported over a period, which cannot be exceeded.