A Local Retail Business Wishes to Determine If There Is

question 36

Multiple Choice

A local retail business wishes to determine if there is a difference in preferred indoor temperature
Between men and women. A random sample of data is collected, with the following results (note:
There are slight differences between Excel and MegaStat output in this test) :
What is the decision at the 5% level of significance?

• A) Since the calculated t-value is less than the critical t-value, fail to reject the null hypothesis and conclude that there is no significant difference in the preferred room temperatures Between the sexes.
• B) Since the calculated t-value is less than the critical t-value, we reject the null hypothesis and conclude that there is a significant difference in the preferred room temperatures Between the sexes.
• C) Since the calculated t-value is more than the critical t-value, we reject the null hypothesis and conclude that there is a significant difference in the preferred room temperatures Between the sexes.
• D) Since the calculated t-value is more than the critical t-value, we fail to reject the null hypothesis and conclude that there is a significant difference in the preferred room Temperatures between the sexes.
• E) There is insufficient information to make a decision.

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Definitions:

Least Risky Strategy

describes the approach or plan of action that exposes an entity to the minimal amount of risk or potential for loss.

Rapidly Aging Population

A demographic trend where the median age in a population increases significantly due to rising life expectancy and/or declining birth rates.

One-Child Policy

A former Chinese government policy aimed at controlling the population by limiting families to having only one child.

Global Expansion

The strategy of a business to enter and compete in international markets, broadening its geographic footprint and customer base.