Does Income Increase When You Get Married? to Investigate This,a

question 51

Multiple Choice

Does income increase when you get married? To investigate this,a college student has randomly selected people from his college town and collected income data for these people.They were categorized according to their marital status.The following results (in thousands of dollars) were obtained. The data are to be analyzed using the Wilcoxon rank sum test.Let W be the Wilcoxon rank sum test statistic equal to the sum of the ranks assigned to the married group.What is the standard deviation of W under the null hypothesis that the two distributions are the same?

• A)4.56
• B)4.79
• C)22.9
• D)38.67

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the true profitability of a firm.

Competitive Firm

A company that operates in a market where there are many buyers and sellers, and no single entity can control the prices.

Purely Competitive

An ideal market scenario where there are many sellers and buyers, each small relative to the market, products are homogeneous, and there is free entry and exit from the market.

Producer Surplus

The divergence between the anticipated payment by producers for a good or service and the actual financial return they obtain.