Consider the Following to Answer the Question(s) Below

question 21

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 users and recorded the connect time during a week period. The following is partial Excel output for the data.
-The P-value for this statistic is < 0.001. Therefore, at α = 0.05

• A) we reject the null hypothesis and conclude that at least two of the mean weekly connect times are different.
• B) we fail to reject the null hypothesis.
• C) we know average connect times are the same for all connection methods.
• D) we reject the alternative hypothesis and conclude that the average weekly connect times are the same for all three methods of connection.
• E) we support the null hypothesis and conclude that the method of connection is not significant.

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Definitions:

Aggregate Supply Curve

A graphical representation that shows the total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.

Price Level

A measure of the average prices of goods and services in an economy, indicating the cost of living and inflation rates.

Explicit Resource Price

The monetary value that is directly paid for the use of a resource or asset, such as wages for labor or rent for land.

Aggregate Supply Curve

A graphical representation showing the relationship between the total supply of goods and services produced in an economy and the price level.