Statistical Methods That Require Assumptions About the Population Are Known

question 9

Multiple Choice

Statistical methods that require assumptions about the population are known as _____.

• A) distribution-free methods
• B) nonparametric methods
• C) either distribution-free or nonparametric methods
• D) parametric methods

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Definitions:

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Contribution Margin

The difference between sales revenue and variable costs, used to cover fixed costs and to provide profit to the company.

Fixed Costs

Expenses that do not change with the volume of production or sales, such as rent, salaries, and insurance.

Variable Costs

Expenditures that adjust based on the quantity of production or the scale of sales.