I the Standard Normal Distribution Is the Appropriate Distribution When

question 199

Multiple Choice

i. The standard normal distribution is the appropriate distribution when testing a hypothesis about a population proportion.
Ii) When testing population proportions, the z statistic can be used when np and n(1 - p) are greater than five.
Iii) To conduct a test of proportions, the assumptions required for the binomial distribution must be met.

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

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Cartel Activities

Actions taken by a group of independent market participants who collude to raise prices, limit supply, or control markets in some other way.

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A landmark federal statute in the field of United States antitrust law passed in 1890 that prohibits monopolistic practices and promotes competition.

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Competitive Economy

An economic system where many firms compete to sell their goods and services, with minimal barriers to entry and exit.