Examlex
If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price elastic.
Non-directional
A hypothesis that does not specify the direction of the expected difference or relationship, indicating only that there is a difference.
Z-statistic
A numerical indicator that shows how a specific value compares to the average of a dataset, expressed as the number of standard deviations away from the mean.
Two-tailed Test
A statistical hypothesis test in which the area of rejection is on both sides of the sampling distribution, allowing for testing in both directions.
Z-statistic
A statistical measure that quantifies the distance (in standard deviation units) a data point is from the mean of a distribution.
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