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TABLE 11-6
As part of an evaluation program, a sporting goods retailer wanted to compare the downhill coasting speeds of 4 brands of bicycles. She took 3 of each brand and determined their maximum downhill speeds. The results are presented in miles per hour in the table below.
-Referring to Table 11-6, the test is robust to the violation of the assumption that the population of speeds is normally distributed.
Consume
The act of using up a resource or goods, or the process of buying and using products and services.
Inflation Rate
The percentage increase in the general price level of goods and services in an economy over a period of time.
Nominal Interest Rate
The interest rate before adjustments for inflation, reflecting the rate at which money borrowed today can grow over time.
Real Rate Of Interest
The interest rate adjusted for inflation, indicating the true cost of borrowing or the true yield on an investment.
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