When Testing for Differences Between Two Groups, If the Computed

question 79

Multiple Choice

When testing for differences between two groups, if the computed z value at 99% confidence is 1.98 we can conclude that:

• A) we can reject the null hypothesis that there is no difference between the groups.
• B) we can accept the null hypothesis that there is no difference between the groups.
• C) there is a statistically significant difference between the two groups.
• D) that there is a difference, but not a statistically significant one, between the two groups.
• E) we need to run more tests because 1.98 is too close to the 1.96 z-value for 99% level of confidence.

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Definitions:

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Hats

Articles of clothing worn on the head, often for fashion, protection against weather conditions, or as part of a uniform.

Quantity Effect

The effect on overall consumption when a change in price leads to a change in the quantity demanded.

Price Effect

The change in quantity demanded of a good or service resulting from a change in its price, indicating consumer sensitivity to price changes.