Assume the Following Sales Data for a Company $$\begin{array} { l r } 2017 & \$ 945,000 \\2016 & 877,500 \\2015 & 675,000\end{array}$$

question 118

Multiple Choice

Assume the following sales data for a company: $$\begin{array} { l r } 2017 & \$ 945,000 \\2016 & 877,500 \\2015 & 675,000\end{array}$$ If 2015 is the base year what is the percentage increase in sales from 2015 to 2016?

• A) 76.9%
• B) 30%
• C) 40%
• D) 71.4%

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Definitions:

Multinomial Experiment

An experiment or process that has more than two possible outcomes, where each outcome has a fixed probability of occurring.

Contingency Table

A table used in statistics to show the frequency distribution of variables, helping to analyze the relationship between two categorical variables.

Test Statistic

A statistic used to determine whether to reject the null hypothesis in significance testing.

Nominal Variables

Categories of data that cannot be quantifiably ranked or ordered, serving as labels or names for distinguishing attributes.