A Hypothesis Test That Rho Is Zero Is Conducted at the 5

question 80

Multiple Choice

A hypothesis test that rho is zero is conducted at the 5% level of significance. If Spearman's (rho) is 0.75 for a sample of 15 observations,what is the computed value of the t-statistic?

• A)0.456
• B)4.088
• C)4.391
• D)2.236

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Price Elasticity

The determination of how price alterations influence the market demand for a commodity.

Marginal Value

The additional satisfaction or utility received by consuming one more unit of a good or service.

Consumer's Demand

The desire of purchasers, users, or consumers for specific goods or services at a given price over a specified period.