In Testing the Difference Between Two Population Means, for Which

question 63

Short Answer

In testing the difference between two population means, for which the population variances are unknown and are not assumed to be equal, two independent samples of large sizes are drawn from the populations. Which of the following tests is appropriate? $\begin{array}{|l|l|}\hline A.&\text { Z-test. } \\\hline B.&\text { Pooled-variances } t \text {-test. } \\\hline C.&\text { Unequal variances } t \text {-test. } \\\hline D.&\text { Matched pars } t \text {-test. } \\\hline \end{array}$

---

Definitions:

Carrying Costs

The cumulative expenses associated with maintaining inventory, which encompass storage fees, insurance premiums, taxes, the decrease in value over time, and the costs related to missed opportunities.

Shortage Costs

Costs incurred when demand exceeds supply, leading to inventory shortages, potentially including lost sales, backorder costs, and customer dissatisfaction.

Stock Out Costs

The costs associated with running out of stock, including lost sales, diminished customer loyalty, and operational disruption.

Accounts Payable Period

The Accounts Payable Period is the average amount of time it takes for a business to pay off its suppliers after receiving goods or services.