To Determine If There Was a Statistically Significant Difference in the Means

question 38

Multiple Choice

To determine if there was a statistically significant difference in the means of two independent groups,which statistical tool would one be most likely to employ to assess the significance of any observed difference?

• A)paired samples t-test
• B)chi-square test for independence
• C)Levene's test for homogeneity of variances
• D)independent samples t-test

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Definitions:

Contingent Liabilities

Potential liabilities that may occur depending on the outcome of a future event.

Financial Statements

Financial statements are formal records that outline the financial activities and conditions of a business, individual, or other entity, typically including the balance sheet, income statement, and statement of cash flows.

Contingency

An existing condition or situation whose outcome is uncertain and will be confirmed only upon the occurrence or non-occurrence of one or more uncertain future events.

IFRS

A global set of accounting standards formulated by the International Accounting Standards Board (IASB), known as International Financial Reporting Standards.