Which of the Following Statements About Utility and Preferences Is

question 225

Multiple Choice

Which of the following statements about utility and preferences is false?

• A)If Sidra prefers tea to coffee and coffee to hot chocolate, then she must prefer tea to hot chocolate.
• B)Preferences can be ranked.
• C)If two individuals, Ingrid and Inez, each consume the same bundle of goods, then both Inez and Ingrid must receive the same utility from the bundle.
• D)Utility cannot be compared across consumers.

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Definitions:

P-Value

The probability of observing data at least as extreme as those observed, given that the null hypothesis is true, used in hypothesis testing.

Sample Size

The number of observations or individuals included in a sample from a population for the purpose of statistical analysis.

Type II Error

A statistical error that occurs when a false null hypothesis is not rejected, also known as a false negative.

Not Guilty

A legal declaration that a defendant has not been proven to have committed the charges against them beyond a reasonable doubt.