If the Price of Vanilla Ice Cream Decreases, It Is

question 233

Multiple Choice

If the price of vanilla ice cream decreases, it is likely that

• A)demand for vanilla ice cream will increase
• B)demand for vanilla ice cream will decrease
• C)demand for chocolate ice cream will increase
• D)demand for chocolate ice cream will decrease
• E)the quantity demanded of vanilla ice cream will decrease

---

Definitions:

Inferential Statistics

Uses mathematical models, theories, and hypotheses to make predictions about a broader population based on observed sample data.

MANOVA

Multiple analysis of variance. This procedure is used when there are multiple dependent variables. See also ANOVA.

Multivariate Analysis

A statistical approach that examines the relationship between multiple variables in order to understand patterns and influences.

Statistical Significance

The probability that a computed statistic such as a t-test or correlation is not due to chance.