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