In a Test of Homogeneity of Proportions, If the Null

question 10

Multiple Choice

In a test of homogeneity of proportions, if the null hypothesis is not rejected, then:

• A) we have proven homogeneity.
• B) we have proven nonhomogeneity.
• C) we would decide that the category proportions for at least one population are different from the rest.
• D) we have insufficient evidence to reject homogeneity.

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Definitions:

Conditional Factor Demand Function

Represents the quantity of an input demanded at each level of output, prices of inputs, and technology, given the firm's optimization behavior.

Optimal Factor Choice

A decision-making process in which a firm determines the most efficient combination of factors of production (labor, capital, etc.) to maximize output or minimize costs.

Weak Axiom of Cost Minimization (WACM)

An economic principle stating that if a set of goods is chosen over another set at the same prices, then the chosen set should not cost more than the other when prices change.

Input Bundle

A combination of resources or inputs used in the production of goods and services.