Each Person in a Random Sample of University Students Was

question 35

Multiple Choice

Each person in a random sample of university students was asked which of five flavors of ice cream he or she preferred. The resulting data was used to test the null hypothesis . The P-value associated with this test was 0.067. If a significance level of 0.05 is used for the test, which of the following is an appropriate conclusion? ​

• A)Fail to reject , there is convincing evidence that there is no preference for one flavor of ice cream over another.
• B)Fail to reject , there is not convincing evidence that there is a preference for one flavor of ice cream over another.
• C)Reject , there is convincing evidence that there is no preference for one flavor of ice cream over another.
• D)Reject , there is convincing evidence that there is a preference for one flavor of ice cream over another.
• E)Based on the information given, it is not possible to determine whether should be rejected or not.

---

Definitions:

Transfer Pricing

The pricing of goods, services and intangibles between associated enterprises that are under common ownership or control.

Selling Division

A segment or branch of a company responsible for marketing and selling its products or services.

Full Cost

The total cost of production that includes both direct costs, like raw materials and labor, and indirect costs, like overhead.

Margin And Turnover

Financial metrics where margin refers to the difference between sales and the cost of goods sold, and turnover involves the rate at which inventory is sold or replaced.