Under What Conditions Is It Permissible to Proceed with a Hypothesis

question 17

Multiple Choice

Under what conditions is it permissible to proceed with a hypothesis test even though the assumption that the population distribution is approximately normal is violated?

• A) We are cautious about generalizing the results.
• B) The sample size is greater than 30.
• C) The data are not clearly ratio.
• D) The data are not clearly nominal or ordinal.

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Definitions:

Mortgage Loan

A loan secured by real property through the use of a mortgage note.

Savings Account

A financial account at a bank or similar institution that ensures the security of the original sum while yielding a slight return in interest.

Compounded Monthly

Refers to the process where interest is calculated and added to the principal sum each month, leading to interest being earned on interest from prior months.

Student Loans

Loans offered to students to finance their education, which typically have lower interest rates and are repayable after graduation.