At the 0.05 Level of Significance

question 14

Multiple Choice

At the 0.05 level of significance

• A) We reject the null hypothesis.
• B) We do not reject the null hypothesis.
• C) We conclude that the number of foreign visitors is significant in explaining tourism revenue.
• D) We reject the null hypothesis, and we conclude that the number of foreign visitors is significant in explaining tourism revenue.
• E) We do not reject the null hypothesis and we conclude that the number of foreign visitors is significant in explaining tourism revenue.

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Definitions:

Total Cost

Total cost is the entire expense associated with the production of a set of goods or services, including both fixed and variable costs.

Output

The total amount of goods or services produced by an individual, firm, or country over a specific period.

Marginal Revenue Curve

A graphical representation showing how the addition of one more unit sold affects the total revenue of a firm.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.