Compared to the Other G7 Countries,Canada Has a Ratio of Trade

question 123

Multiple Choice

Compared to the other G7 countries,Canada has a ratio of trade to GDP that is

• A) higher than any other G7 country.
• B) higher than average for G7 countries.
• C) exactly equal to the average for G7 countries.
• D) lower than average for G7 countries.
• E) equal to zero.

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Definitions:

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists within a set of given observations.

P-value

A measure in statistics that helps to determine the significance of results derived from a hypothesis test.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true; a threshold for determining statistical significance, usually denoted by alpha (α).

Null Hypothesis

In statistics, a hypothesis that there is no significant difference or association between specified populations, any observed difference being due to sampling or experimental error.