To Compare the Effect of Weather on Sales of Soft

question 31

Multiple Choice

To compare the effect of weather on sales of soft drinks, a soda manufacturer sampled two regions of the country with the following results. Is there a difference in sales between the 2 regions? i. The null hypothesis is p_a - p_b = 0.
ii. The alternate hypothesis is p_a - p_b > 0.
iii. The z-statistic is 3.40.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (ii) is a correct statement but not (i) and (iii).

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Definitions:

Housing and Financial Crisis

A period characterized by declining home prices, foreclosures, and a loss of value in financial instruments, leading to widespread economic instability.

World Prices

The prices of goods and services determined in the global market that influence the cost and availability of products internationally.

Aggregate Demand

The total amount of goods and services demanded in an economy at a given overall price level and time.

Aggregate Supply

The total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.