John Rejected His Null Hypothesis in a Right-Tailed Test for a Mean

question 92

Multiple Choice

John rejected his null hypothesis in a right-tailed test for a mean at α = .025 because his critical t value was 2.000 and his calculated t value was 2.345. We can be sure that:

• A)John did not commit a Type I error.
• B)John did not commit a Type II error.
• C)John committed neither a Type I nor Type II error.
• D)John committed both a Type I and a Type II error.

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Definitions:

Price of X

The cost or monetary value associated with acquiring, producing, or selling a good or service named X.

Quasilinear Preferences

Preferences characterized by a linear relationship in one good and non-linear in others, implying constant marginal utility for the linear good.

Consumer Surplus

The gap between the total price consumers are ready and able to spend for a good or service and what they actually spend.

Inverse Demand Function

A mathematical function that expresses the price of a good or service as a function of the quantity demanded, illustrating how price changes with variations in demand.