If the Obtained Value Is Less Than the Critical Value,what

question 35

Multiple Choice

If the obtained value is less than the critical value,what should you do?

• A)reject the null hypothesis
• B)accept the null hypothesis
• C)set a high p value
• D)increase your sample

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Definitions:

Law of Diminishing Returns

An economic principle stating that as one input in the production process is incrementally increased, holding all other inputs constant, there will be a point at which the added output from each additional unit of input will start to decrease.

Dollars Per Unit

A unit cost measure representing the price or cost of a single item or measure of goods or services.

Elasticity of Product Demand

A measure of the responsiveness of the quantity demanded of a product to changes in its price.

Elasticity of Resource Demand

The measure of how much the quantity demanded of a resource changes in response to a change in its price.