An Increase in the Excise Tax Imposed Upon Consumers of Gasoline

question 120

Multiple Choice

An increase in the excise tax imposed upon consumers of gasoline

• A)shifts the demand for gasoline to the left.
• B)shifts the demand for gasoline to the right.
• C)shifts the supply of gasoline to the right.
• D)shifts the market price of gasoline.

Understand the concept of degrees of freedom in statistical analysis.

Differentiate between direct, indirect (negative), and nondirectional correlations.

Recognize that statistical correlation does not imply causation.

Understand the use of t-test for the correlation coefficient to evaluate research hypotheses.

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Definitions:

Independent Samples

Two or more groups of data that are collected from separate populations, where the participants in one group do not affect the members of another group.

ANOVA

Analysis of Variance (ANOVA) is a statistical method used to test differences between two or more means by analyzing variances.

Chi-square Test

A statistical test used to determine the significance of the association between categorical variables.