Instruction 15-13
Parents Complain That Children Read Too Few Storybooks

question 68

Multiple Choice

Instruction 15-13
Parents complain that children read too few storybooks and watch too much television nowadays. A survey of 1,000 children reveals the following information on average time spent watching TV and average time spent reading storybooks.
| Average time spent reading story books |
$$\begin{array} { | l | c | c | c | } \hline \begin{array} { l } \text { Average time spent } \\\text { watching TV }\end{array} & \begin{array} { c } \text { Less than } \\1 \text { hour }\end{array} & \begin{array} { c } \text { Between } \\1 \text { and 2 hours }\end{array} & \begin{array} { c } \text { More than } \\2 \text { hours }\end{array} \\\hline \text { Less than } 2 \text { hours } & 90 & 85 & 130 \\\hline \text { More than 2 hours } & 655 & 32 & 8 \\\hline\end{array}$$
-Referring to Instruction 15-13,you want to test whether there is any relationship between average time spent watching TV and average time spent reading storybooks.Suppose the value of the test statistic was 164 (which is not the correct answer) and the critical value was 19.00 (which is not the correct answer) ,then you could conclude that

• A) more time spent watching TV leads to less time spent reading storybooks.
• B) more time spent reading storybooks leads to less time spent watching TV.
• C) there is no connection between time spent reading storybooks and time spent watching TV.
• D) there is connection between time spent reading storybooks and time spent watching TV.

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Definitions:

Second-Price Auction

An auction format in which the highest bidder wins but pays the second-highest bid, encouraging true value bidding.

Selling Price

The amount of money for which a product or service is sold to the customer.

True Value

The actual, intrinsic value of an asset or entity, not influenced by external factors like market fluctuations or subjective perceptions.

Bid-Rigging

An illegal agreement among competitors to raise, lower, or maintain prices at agreed-upon levels, often in auctions.