Table 12-13 Consider the Data Shown Above for Vicuna, a Country That

question 26

Multiple Choice

Table 12-13
$\begin{array}{|c|c|c|c|c|}\hline \text { Year } & \begin{array}{c}\text { Oranges } \\\text { Produced }\end{array} & \begin{array}{c}\text { Price of } \\\text { Oranges }\end{array} & \begin{array}{c}\text { Shirts } \\\text { Produced }\end{array} & \begin{array}{c}\text { Price of } \\\text { Shirts }\end{array} \\\hline 2016 & 1,800 & \$ 0.90 & 110 & \$ 30.00 \\\hline 2018 & 2,000 & 1.00 & 110 & 35.00 \\\hline\end{array}$ Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts.
-Refer to Table 12-13.Nominal GDP for Vicuna for 2016 equals

• A) $4,920.
• B) $5,100.
• C) $5,300.
• D) $5,850.

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Definitions:

Alternative Hypotheses

Statements positing a specific relationship or difference between variables, considered when the null hypothesis is suspected to be false.

Test Statistic

A value derived from sample data used in hypothesis testing to determine whether to reject the null hypothesis.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between specified populations or parameters.

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis by stating there is a statistically significant effect or relationship between variables.