In 2019, One of the Many Candidates Who Announced a Bid

question 89

Multiple Choice

In 2019, one of the many candidates who announced a bid for the Democratic nomination for president was Mike Gravel, an 89-year-old former Alaska senator. Although Gravel was excluded from all debates and nearly every public opinion poll, and his campaign was run primarily by teenagers almost exclusively via Twitter, he was able to raise just over $200,000 before ending his campaign in August 2019. What is Gravel's campaign for the Democratic presidential nomination an example of?

• A) the ability of a candidate to successfully campaign exclusively on the Internet
• B) the power of the Internet to raise money for a candidate's campaign
• C) the influence of social media on a candidate's presidential campaign
• D) the interest among Americans in fringe candidates during the nomination phase

Understand the framework of factorial design in the context of ANOVA.

Understand the concept and components of Analysis of Variance (ANOVA).

Recognize the difference between ANOVA and t-test statistical techniques.

Explain the significance of the F ratio in ANOVA.

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Definitions:

Cournot Duopoly

A Cournot Duopoly is a market structure where two firms compete on the amount of output they will produce, each assuming the other's output as given when deciding its own output level.

Cournot Duopoly

A model of competition in which two firms choose their output levels strategically, assuming the output of the other, aiming to maximize profit.

Linear

Describing a relationship or function that can be graphically represented as a straight line, indicating a constant rate of change.

Reaction Functions

Reaction functions describe how one player's optimal strategy depends on the strategies of other players in a strategic game or economic model.