Which Statistical Technique Should You Use When You Are Attempting

question 79

Multiple Choice

Which statistical technique should you use when you are attempting to answer the question: "Is there a significant relationship between the customers' disposable income (measured in dollars) and their repeat-buying behavior (measured by the number of rebuys in a twelve-month period) ?"

• A) Multiple regression analysis
• B) Chi-Square test
• C) Simple regression analysis
• D) Pearson correlation coefficient
• E) None of the above.

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Definitions:

Extreme Values

Refers to the maximum and minimum values in a given data set, indicating the range's limits.

Range

The difference between the highest and lowest values in a data set, indicating its spread.

Coefficient of Variation

A metric that quantifies the spread of data points around the mean within a dataset, represented as a percentage of the mean itself.

Variance

A statistical measure of the dispersion of a set of data points in a data distribution, showing how each data point differs from the mean.