Consider the Following to Answer the Question(s) Below

question 19

Multiple Choice

Consider the following to answer the question(s) below:
An Internet service provider is interested in testing to see if there is a difference in the mean weekly connect time for users who come into the service through a dial-up line, DSL, or cable Internet. To test this, the ISP has selected random samples from each category of user and recorded the connect time during a week period. The following is partial Excel output for the data.

-The correct null hypothesis is

• A) Mean weekly connect times are equal regardless of the method of connection.
• B) Mean weekly connect times are not equal regardless of the method of connection.
• C) Method of internet connection has no impact on average weekly connect times.
• D) Method of internet connection has an impact on average weekly connect times.
• E) None of the above.

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Definitions:

Willingness to Pay

The highest price a person is willing to pay for a product or service, indicating how much they value it.

Consumer Surplus

The deviation between the cumulative amount consumers are inclined to spend on a good or service and the amount they really spend.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of that good or service consumers are willing and able to purchase, typically downward sloping.

Price

The financial sum necessary for acquiring a good or service.