The Statistic Used in the Sign Test Measures _________

question 10

Multiple Choice

The statistic used in the sign test measures _________.

• A) the difference between the means of the two groups
• B) the direction of the differences between pairs of scores
• C) the magnitude of the differences between pairs of scores
• D) the difference between the variance of the two groups

---

Definitions:

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical, allowing for competition on factors beyond price.

Monopolist

A monopolist is an individual or entity that holds exclusive control over the supply or trade in a commodity or service, thus being able to significantly influence or set prices.

Perfect Competitor

A firm that operates in a perfectly competitive market, characterized by selling a homogenous product and having no control over the market price.

Output

In economics, output refers to the total amount of goods and services produced by an economic system or entity.