When would you use a one-tailed rather than a two-tailed t-test when checking significance levels?
What will be an ideal response?
You would use a one-tailed test when the sign of the variable is important. That is, if you only want to know if the independent variable has a statistically significant effect on the dependent variable, a two-tailed test should be used. If direction of effect is important, then a one-tailed test should be used.
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When there is a foreign monopoly exporting to the home nation, under free trade it will sell a quantity where the home ______ is just equal to the foreign ______.
a. MC; MR b. supply; demand c. demand; supply d. MR; MC
Refer to Table 4-6. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $13, Marko's will produce
A) 1 shirt. B) 2 shirts. C) 3 shirts. D) 4 shirts.