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FAA
The FAA recorded the number of complaints per month for three airlines.The data were:
-The test question is: Do the three airlines have the same median number of complaints? State the null and alternative hypotheses.
H0: _____________________________
H1: _____________________________
Flow Measure
A quantitative assessment that represents movement of items over time, often used in economics to track variables like income.
Consumption
The consumption of products and services by individuals in a household.
Impossibility Theorem
A proposition demonstrated by Kenneth Arrow showing that no system of aggregating individual preferences into social decisions will always yield consistent, nonarbitrary results.
Voting Paradox
A simple demonstration of how majority-rule voting can lead to seemingly contradictory and inconsistent results. A commonly cited illustration of the kind of inconsistency described in the impossibility theorem.
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