If the Difference Between Two Groups Is Statistically Significant,it Suggests

question 156

Multiple Choice

If the difference between two groups is statistically significant,it suggests that:

• A) there is a positive correlation among the data
• B) the data show low levels of systematic error
• C) the researcher has to use descriptive statistics to test for the validity of the results
• D) if the experiment were repeated, the same results would likely occur

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Definitions:

Actual Production

The total quantity of goods and services produced by an economy or firm at any given time, reflecting real output.

Diagram

A simplified drawing showing the appearance, structure, or workings of something; a schematic representation.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.

Producer Surplus

The variance between the price producers are willing to take for a good or service and the price they end up receiving.