SCENARIO 12-10 -Referring to Scenario 12-10, Which Test Would Be Used to Be

question 93

Multiple Choice

SCENARIO 12-10
-Referring to Scenario 12-10, which test would be used to properly analyze the data in this
Experiment to determine whether there is a relationship between defect rate and years of
Experience?

• A) test for independence
• B) test for differences among more than two proportions
• C) Wilcoxon rank sum test for independent populations
• D) Kruskal-Wallis rank test

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Definitions:

Truth In Lending Act

A law at the federal level aimed at fostering the knowledgeable use of consumer credit through mandates on disclosing its conditions and expenses.

Variable Interest Rate

An interest rate that can change over the duration of a loan based on the market conditions or an index.

Index Rate

A benchmark interest rate used by financial institutions to determine the rate charged on loans or the return on investment.

APR

Annual Percentage Rate, a measure of the cost of credit, expressed as a yearly interest rate including fees and charges.