A New Study Has Found That, on Average, 6- to 12-Year-Old

question 61

Multiple Choice

A new study has found that, on average, 6- to 12-year-old children are spending less time on household chores today compared to 1981 levels. Suppose two samples representative of study's results report the following summary statistics for the two periods. Using a 5% confidence level, which of the following is correct?

• A) Reject H₀: µ₁ − µ₂ ≤ 0 and therefore do not conclude that relative to the 1981 levels, 6- to 12-year-old children spent less time in 2008 on household chores.
• B) Do not reject H₀: µ₁ − µ₂ ≤ 0 and therefore conclude that relative to the 1981 levels, 6- to 12-year-old children spent less time in 2008 on household chores.
• C) Reject H₀: µ₁ − µ₂ ≤ 0 and therefore conclude that relative to the 1981 levels, 6- to 12-year-old children spent less time in 2008 on household chores.
• D) Do not reject H₀: µ₁ - µ₂ ≤ 0 and therefore do not conclude that relative to the 1981 levels, 6- to 12-year-old children spent less time in 2008 on household chores.

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Definitions:

Outstanding Balance

the amount of money that is still owed or remains unpaid on a loan, credit card, or another financial obligation.

Combined Equivalent

A combined or total equivalent that incorporates various elements or aspects to express a singular value or concept.

Scheduled Payments

Regular, often monthly, payments agreed upon to repay a loan over a certain period of time.

Rate of Return

The net gain or loss of an investment over a specified period, expressed as a percentage of the investment's initial cost.