Table 6-3 The Table Below Pertains to Studious, an Economy in Which

question 307

Multiple Choice

Table 6-3
The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators.

-Refer to Table 6-3. If 2006 is the base year, then the consumer price index was

• A) 100 in 2006, 135 in 2007, and 155 in 2008.
• B) 100 in 2006, 270 in 2007, and 310 in 2008.
• C) 200 in 2006, 135 in 2007, and 155 in 2008.
• D) 200 in 2006, 270 in 2007, and 310 in 2008.

---

Definitions:

Statistically Significant

An indication that the likelihood of the observed data, under the assumption of the null hypothesis, is low enough to reject the null hypothesis.

Electronic Control

The use of electronic systems to regulate the operation of mechanical devices, commonly found in automotive, industrial, and consumer appliance contexts.

Sampling

The process of selecting a subset of individuals from a statistical population to estimate characteristics of the whole population.

Significance Level

The chance of incorrectly dismissing the null hypothesis in a statistical examination, usually symbolized by alpha, when it is in fact correct.