What Statistical Test Might You Use in Order to Establish

question 19

Multiple Choice

What statistical test might you use in order to establish whether a distribution is normal and significant?

• A) Spearman's test
• B) Kolmogorov-Smirnov test
• C) t-test
• D) None of the above

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Definitions:

Normal Good

A type of good for which demand increases as the income of consumers increases, reflecting a direct relationship between income and demand.

Complements

Goods or services that are used together, where the use or consumption of one enhances the value or demand of the other.

Inferior Good

An inferior good is a type of product that sees an increase in demand as consumers’ income decreases, contrary to what is observed with normal goods.

Complement

A good or service that, when used together with another, enhances mutual use and utility, often impacting demand in correlated ways.