You Are the Newly Appointed Business Analyst for a Large

question 16

Multiple Choice

You are the newly appointed business analyst for a large national bank (250000 customers) . At a team meeting, your boss presents the results of a survey of customers regarding their opinion (measured on a ten point scale) of a new financial product. The survey sample (of 500 customers) showed a significant (p = 0.23) level of satisfaction with the new financial product. How should you interpret this result for your boss?

• A) The result is significant and customers are satisfied
• B) The result is not-significant but the small sample size is not important as sample size has no effect on statistical power
• C) The result is not-significant but the small sample size may be missing large differences in customer satisfaction
• D) The result is significant but the small sample size may be missing large differences in customer satisfaction

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Definitions:

Minor

A person under the legal age of majority, typically under 18 years old, who has certain restrictions on their legal capabilities such as entering into contracts.

Contract

A binding legal agreement between two or more parties that is enforceable by law, specifying obligations each must fulfill.

Adult

An individual who has reached the age of maturity as defined by law, typically 18 years old in many countries, which qualifies them for full legal rights and responsibilities.

Minor

A person under the age of majority, legally recognized as not having the full legal capacity and rights of an adult.