SCENARIO 12-4
a Computer Used by a 24-Hour Banking Service $\chi$

question 88

Multiple Choice

SCENARIO 12-4
A computer used by a 24-hour banking service is supposed to randomly assign each transaction to one of 5 memory locations.A check at the end of a day's transactions gave the counts shown in the table to each of the 5 memory locations,along with the number of reported errors.
The bank manager wanted to test whether the proportion of errors in transactions assigned to each of the 5 memory locations differ.
-Referring to Scenario 12-4,which test would be used to properly analyze the data in this experiment?

• A)\(\chi\) ² test of independence
• B)\(\chi\)² test for difference among more than two proportions
• C)Wilcoxon rank sum test
• D)Kruskal-Wallis rank Test

Calculate the difference in payoff times under varying monthly payment scenarios on a loan with interest compounded monthly.

Compare the economic value of different annuity options under various conditions.

Calculate the savings accumulation time required to reach a financial goal with periodic deposits and compound interest.

Determine the time required for a business investment to repay its initial cost including a desired return.

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Definitions:

Independent Variable

A variable that is manipulated or changed in an experiment to observe its effect on the dependent variable.

Virtual Accidents

Simulated accidents within a digital environment, often used in safety training or the study of human responses to emergency situations.

Texting

The act of sending and receiving short text messages, usually through mobile phones or internet-based applications.

Placebo Effect

A phenomenon in which a fake treatment, an inert substance like a sugar pill, can sometimes improve a patient's condition simply because the person has the expectation that it will be helpful.