When the Following Hypotheses Are Being Tested at a Level $\alpha$

question 169

Multiple Choice

When the following hypotheses are being tested at a level of significance of $\alpha$ H₀: $\mu$ ₁- $\mu$ ₂ $\ge$ 0
H_a: $\mu$ ₁- $\mu$ ₂ < 0
The null hypothesis will be rejected if the p-value is

• A)1- \(\alpha\)
• B)> \(\alpha\)
• C)> \(\alpha\)/2
• D)\(\le\)\(\alpha\)

---

Definitions:

Advertising

The action of calling public attention to products, services, needs, etc., especially by paid announcements in newspapers and magazines, over the radio or television, on billboards, etc.

Long-run Equilibrium

The state in which all inputs are variable, allowing firms to make adjustments and the market to clear.

Efficient Scale

The level of production at which average total costs are minimized.

Elasticity Of Demand

Elasticity of demand measures how the quantity demanded of a good changes in response to changes in its price.