When the Normality Assumption Is Not Met in a Randomized

question 106

Multiple Choice

When the normality assumption is not met in a randomized block design, which of the following tests should be used?

• A) Wilcoxon rank sum test
• B) Friedman rank test
• C) Kruskal-Wallis test
• D) Wilcoxon signed ranks test

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Definitions:

Sensitive to Price

Sensitive to price describes a situation where demand for a product is highly affected by changes in its price.

Maximize Profit

The primary goal of businesses to achieve the highest possible profit margin by optimizing revenue while minimizing costs.

Fixed Costs

Costs that do not vary with the level of production or sales, including rent, salaries, and insurance premiums, providing stability in budgeting and planning.

Value-based Pricing

A pricing strategy where the price is set based on the perceived value to the customer rather than based on the cost of the product or historical prices.