The Results from an Independent-Measures T Hypothesis Test Are Reported

question 61

True/False

The results from an independent-measures t hypothesis test are reported as "t(24)= 3.85,p < .01,two tailed."The research study for this test used a total of 26 subjects.​

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Definitions:

Average Revenue

The amount of income generated per unit of sale or services rendered, calculated by dividing the total revenue by the number of units sold.

Total Revenue

The overall amount of money generated by a firm from selling its products or services, calculated as the quantity of goods sold multiplied by the price of the goods.

Perfectly Elastic

A situation where a small change in price leads to an infinite change in quantity demanded or supplied, depicted as a horizontal line on a graph.

Perfectly Inelastic

A situation in which the quantity demanded or supplied does not change regardless of changes in price.