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Use the information below to answer the following questions.
Fact 18.2.1
Wanda's is a fish store that hires students to pack the fish. The fish market is competitive. Originally the price is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $7.50 an hour. Then the market price of fish falls to 33.33¢ a kilogram but the wage rate of fish packers remains at $7.50 an hour.
-Refer to Fact 18.2.3. As a result,
Simple Analysis
The process of examining data or statistical results using straightforward, basic methods without complex or advanced techniques.
One or More
An expression indicating at least one or possibly more of something.
T
Often refers to a t-score, used in various statistical analyses to compare two means and determine if they significantly differ from each other.
Cohen's d
A measure of the size of an effect, expressed as the difference between two means divided by the standard deviation, used in power analysis and meta-analysis.
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