State the Critical Value(s)for a T Test Using a Two-Tailed

question 21

Multiple Choice

State the critical value(s) for a t test using a two-tailed test at a .05 level of significance: t(20) .

• A) ±1.725
• B) ±2.093
• C) ±2.086
• D) ±0.687

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Definitions:

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogeneous products, and no barriers to entry or exit.

Price Setter

An entity, often a dominant firm or a monopoly, that has the ability to influence the market price of goods or services rather than being a price taker.

Price Taker

An individual or company that must accept prevailing prices in the market, having no influence over them.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, and very easy entry and exit, leading to firms being price takers.