A Researcher Hypothesizes That the Variation in the Car Rental

question 44

Multiple Choice

A researcher hypothesizes that the variation in the car rental rates at a major citiy's airport is less than the car rental rates in that city. The variance of 7 airport car rental rates was $25 and the variance of 4 city car
Rental rates was $60. What is the test value?

• A) 4.20
• B) 1.55
• C) 2.40
• D) 5.76

---

Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide at each price level.

Before-tax

A financial figure or situation measured without considering the effects of taxation.

Excise Tax

A tax levied on specific goods, services, or transactions, often with the aim of reducing their consumption or generating revenue for the government.

Demand Curve

Demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing an inverse relationship.