-From Table 2

question 24

Multiple Choice

-From Table 2.3, at the price of $5 there is a

• A)shortage of 4.
• B)surplus of 2.
• C)neither a shortage nor a surplus.
• D)surplus of 4.

---

Definitions:

Hypotheses Testing

Hypotheses testing is a statistical method used to make decisions about the properties of a population based on sample data, involving the testing of an assumption or hypothesis.

Restaurant Types

Categories or classifications of restaurants based on factors such as cuisine, service style, and pricing.

Friedman Test

An approach in statistics, free from parametric constraints, used to detect treatment variances across a series of test efforts.

7-point Scale

A scale, often used in surveys and questionnaires, that provides seven levels for respondents to express their agreement, satisfaction, or intensity of feeling about a statement or question.