A Behaviorist Has Performed the Following Experiment

question 55

Essay

A behaviorist has performed the following experiment.For each of 10 sets of identical twins who were born 30 years ago,he recorded their annual incomes,according to which twin was born first.The results (in $1,000s)are shown below.Can he infer at 5% significance level that there is a difference in income between the twins?

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Definitions:

Capital Goods

Are tangible assets such as buildings, machinery, equipment, vehicles, and tools that an organization uses to produce goods or services.

Production Possibilities Curve

A graphical representation that shows the maximum quantity of one good that can be produced for every possible quantity of another good produced, given the available resources and technology.

Consumer Goods

Products and services that are purchased for personal use or consumption by the general public.

Capital Goods

Goods that are used in producing other goods and services rather than being bought by consumers.