Which of the Following Is NOT True of Nonparametric Tests

question 12

Multiple Choice

Which of the following is NOT true of nonparametric tests?

• A)They require a normal distribution.
• B)They can use nominal level data.
• C)They are less powerful than parametric tests.
• D)None of the above are true of nonparametric tests.

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Definitions:

Total Revenue

The overall amount of money earned by a firm from the sale of its products or services before any costs are subtracted.

Point Elasticity

A measure of elasticity that uses the slope measurement.

Slope Measurement

The rate at which a line or curve inclines or declines, indicating the relationship between changes in variables on a graph.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, often influencing pricing strategies.