Table 64 -Refer to Table 6

question 92

Multiple Choice

Table 6.4
$$\begin{array} { | c | c | } \hline \text { Chocolate Bars } & \text { Total Utility } \\\hline 1 & 10 \\\hline 2 & 25 \\\hline 3 & \\\hline 4 & 60 \\\hline 5 & 70 \\\hline\end{array}$$
-Refer to Table 6.4,which shows a utility schedule for a consumer's consumption of chocolate bars.The total utility derived from the consumption of one chocolate bar is _____ units.

• A)2
• B)70
• C)45
• D)15
• E)10

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Definitions:

Null Hypothesis

A statement used in hypothesis testing that posits there is no statistical significance in a set of given observations, aiming to be either rejected or not rejected.

Alpha

In hypothesis testing, the alpha value denotes the threshold of significance, where typical levels are 0.05 (5%) or 0.01 (1%), used to determine if the null hypothesis can be rejected.

Statistical Probability

The likelihood of an event occurring based on a mathematical model, often expressed as a number between 0 and 1.