If an Economist Wishes to Determine Whether There Is Evidence

question 72

Multiple Choice

If an economist wishes to determine whether there is evidence that mean family income in a community exceeds $50,000,

• A) either a one-tail or two-tail test could be used with equivalent results.
• B) a one-tail test should be utilized.
• C) a two-tail test should be utilized.
• D) none of the above

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Definitions:

Non-Compliance

Failure or refusal to act in accordance with set rules, regulations, or standards.

Fair Adjustment

An equitable modification or change made to resolve a dispute or correct an imbalance.

Inconvenience

A minor annoyance or difficulty that causes discomfort or trouble, often disrupting plans or activities.

Anger

A strong feeling of displeasure or hostility triggered by what is perceived as wrong, injustice, or frustration.