A Researcher Was Assessing Patient Healing Time When Using a New

question 2

Multiple Choice

A researcher was assessing patient healing time when using a new form of surgical dressing called MediDressX. He had a sample size of 48 and a p-value of 0.20. Does the researcher recommend that hospitals stop using this product?

• A) No, because the sample size is large and therefore the p-values are accurate.
• B) Yes, because statistical significance has nothing to do with sample size.
• C) No, because the sample size is small and p-values are easily affected by sample size.
• D) Yes, because the sample has low confidence levels.

---

Definitions:

Average Cost Method

An inventory costing method that assigns the average cost of all similar items in inventory to the cost of goods sold and to ending inventory.

Cost Of Goods Sold

Represents the direct costs attributable to the production of the goods sold in a company, including materials and labor.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Quantity Discount

A reduction in price given by a seller to a buyer for purchasing a larger quantity.