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Most frequently, t statistics are used in Student's t-tests, a form of statistical hypothesis testing, and in the computation of certain confidence intervals. The key property of the t statistic is that it is a pivotal quantity – while defined in terms of the sample mean, its sampling distribution does not depend on the population parameters, and thus it can be used regardless of what these ...
Because the consumer is elastic, the quantity change is significant. Because the producer is inelastic, the price doesn't change much. The producer is unable to pass the tax onto the consumer and the tax incidence falls on the producer. In this example, the tax is collected from the producer and the producer bears the tax burden.
In statistics, a standard normal table, also called the unit normal table or Z table, [1] is a mathematical table for the values of Φ, the cumulative distribution function of the normal distribution.