You Are Interested in Determining If the Average Amount of Time

question 80

Multiple Choice

You are interested in determining if the average amount of time (in hours) that students spend on the Internet per day is greater than 2 hours.The data below are from a random sample of 11 students. What did you notice from your preliminary analysis of the data?

• A)The data were not approximately normal.
• B)There are outliers.
• C)The data are normal.
• D)A and B are both correct.

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Definitions:

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the relationship between two variables by holding other relevant factors constant.

Price of Capital

Refers to the cost of using capital goods, such as machinery or buildings, in the production of goods and services, often influenced by interest rates and market demand.

Optimal Product Technique

A strategy or process aimed at finding the most efficient and effective way to produce goods or services.

Price of Labor

The cost associated with hiring workers, often considered in terms of wages or salaries.