When the Difference in the Location of Two Populations Is

question 112

Multiple Choice

When the difference in the location of two populations is to be compared based on observations from two independent samples,and the variable is measured on an ordinal scale,the ________ can be used.

• A)Kolmogorov-Smirnov one-sample test
• B)runs test
• C)binomial test
• D)Mann-Whitney U test

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Definitions:

Market Failures

Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Shortage

The amount by which the quantity demanded of a product exceeds the quantity supplied at a particular (below-equilibrium) price.

Market

Any institution or mechanism that brings together buyers (demanders) and sellers (suppliers) of a particular good or service.

Majority Voting

A decision-making process where the choice that gathers more than half of the votes wins, commonly used in democratic elections and organizations.