To Compare the Effect of Weather on Sales of Soft

question 18

Multiple Choice

To compare the effect of weather on sales of soft drinks, a soda manufacturer sampled two regions of the country with the following results. Is there a difference in sales between the 2 regions? i. Using the 1% level of significance, the critical value is ±2.58.
ii. The z-statistic is 3.57.
Iii) Your decision is to reject the null hypothesis

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (ii) is a correct statement, but not (i) and (iii).

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Definitions:

Fundamental Questions

Basic economic questions that societies must answer regarding the allocation of resources and the distribution of goods and services.

System Promote Progress

Describes a mechanism or set of policies designed to encourage advancement, innovation, and improvements in various fields such as technology, economy, and social welfare.

Minimize The Cost

A strategy aimed at finding the most effective way to use resources to reduce expenses to the lowest possible level.

Cost Per Unit

The total cost associated with producing one unit of a product, including fixed and variable costs.