Suppose That the Price of Wheat Has Fallen from $3

question 80

Multiple Choice

Suppose that the price of wheat has fallen from $3 to $2 per bushel and that the price of newsprint has fallen from $200 to $100 per tonne.The relative price of wheat in terms of newsprint

• A)has fallen.
• B)has risen.
• C)remained constant.
• D)cannot be determined from the above data.
• E)is completely unrelated.

Distinguish between one-tailed and two-tailed hypotheses.

Identify the appropriate circumstances for using z-scores and t-tests.

Understand the significance of sample size in statistical analysis.

Understand the distinction between standard deviation and standard error, and their respective uses in statistics.