Refer to the Accompanying National Income Data (In Billions of

question 179

Multiple Choice

$$\begin{array} { | l | r | } \hline \text { Disposable Income } & \$ 200 \\\hline \text { Net Private Domestic Investment } & 40 \\\hline \text { US Imports } & 15 \\\hline \text { National Income } & 300 \\\hline \text { Personal Taxes } & 31 \\\hline \text { Net Exports } & 9 \\\hline \text { Gross Private Domestic Investment } & 55 \\\hline \text { Net Foreign Factor Income } & 10 \\\hline \text { Statistical Discrepancy } & 0 \\\hline\end{array}$$ Refer to the accompanying national income data (in billions of dollars) . In these data, U.S. GDP is

• A) $315 billion.
• B) $324 billion.
• C) $305 billion.
• D) $367 billion.

---

Definitions:

Null Hypothesis

The default position that there is no association between two measured phenomena, or no difference among groups being compared.

P-Value

The probability of observing test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.

Critical Value

A threshold in hypothesis testing that defines the boundary or cutoff point at which the test statistic is considered significant.

Null Hypothesis

A hypothesis that suggests there is no statistical significance between the two specified populations or sets of data.