Universities a and B Are Substitutes in the Minds of Many

question 7

Multiple Choice

Universities A and B are substitutes in the minds of many college students.  Initially the student tuition at each university is the same and far below the equilibrium tuition.  Then, the tuition at A is raised and B is not.  As a result of a rising tuition at A, some students who would have applied and enrolled in A, apply to B instead.  Based on the logic presented in one of the theories discussed in the textbook, we would expect that

• A)instructors at B will not change their habits when it comes to being punctual for office hours.
• B)instructors at A will begin to be more nearly punctual for office hours than they were previously.
• C)instructors at B will begin to be more nearly punctual for office hours than they were previously.
• D)instructors at A will not change their habits when it comes to being punctual for office hours.

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Definitions:

API Gravity Degrees

A measure of how heavy or light a petroleum liquid is compared to water, used in the oil industry to characterize crude oil.

T-Table Values

Values found in a table that correspond to the T-Distribution, used for hypothesis testing in statistics, especially when the sample size is small and the population standard deviation is unknown.

Confidence Level

The probability that a confidence interval will capture the population parameter in repeated samples.

Simple Linear Regression

A mathematical technique that represents the association between a single independent variable and a dependent variable through a linear formula.