The Test of the Null Hypothesis Is a ________ Test

question 34

Multiple Choice

The test of the null hypothesis is a ________ test if the alternative hypothesis is expressed directionally.

• A) two-tailed
• B) three-tailed
• C) four-tailed
• D) one-tailed
• E) A and D

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Definitions:

Inverse Demand Function

A mathematical function that expresses price as a function of quantity demanded, depicting how the market price of a good will adjust to balance demand with supply.

Inverse Supply

A concept describing the relationship between the price of a good and the quantity supplied, typically showing that as price decreases, the quantity supplied decreases.

Pareto Optimal

A state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.