SCENARIO 15-3 a Chemist Employed by a Pharmaceutical Firm Has

question 55

Short Answer

SCENARIO 15-3 A chemist employed by a pharmaceutical firm has developed a muscle relaxant.She took a sample of 14 people suffering from extreme muscle constriction.She gave each a vial containing a dose (X)of the drug and recorded the time to relief (Y)measured in seconds for each.She fit a curvilinear model to this data.The results obtained by Microsoft Excel follow SUMMARY OUTPUT
-Referring to Scenario 15-3, suppose the chemist decides to use a t test to determine if the linear term is significant.The p-value of the test is ______.

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Definitions:

Total Benefit

The entire satisfaction or value derived from consuming a good or service.

Optimal Quantity

The quantity of production that maximizes a firm's profit or minimizes its costs under certain conditions.

Free-Rider Problem

The inability of potential providers of an economically desirable good or service to obtain payment from those who benefit, because of nonexcludability.

Public Good

An item or service that is available for all individuals to consume, regardless of who pays for it, characterized by its non-excludability and non-rivalry.