Figure 3-4 -Refer to Figure 3-4.If the Price Is $10

question 8

Multiple Choice

Figure 3-4

-Refer to Figure 3-4.If the price is $10,

• A)there would be a surplus of 600 units.
• B)there would be a shortage of 600 units.
• C)there would be a surplus of 200 units.
• D)there would be a shortage of 200 units.

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Definitions:

Non-directional Null Hypothesis

A hypothesis that specifies no expected direction of the observed effect, stating simply that there is no association between the variables under investigation.

Directional Null Hypothesis

A specific type of null hypothesis that posits no predicted direction of the effect or association between variables.

Directional Alternative Hypothesis

A hypothesis that specifies the direction of the expected difference or relationship between variables (e.g., greater than, less than).

Non-directional Alternative Hypothesis

A hypothesis that specifies there is a statistical difference without stating the direction of the difference.