Which Statistical Technique Is Appropriate When We Describe a Single

question 16

Multiple Choice

Which statistical technique is appropriate when we describe a single population of nominal data with exactly two categories?

• A)z-test of a population proportion.
• B)Chi-squared test of a multinomial experiment.
• C)Chi-squared test of a contingency table.
• D)z-test of a population proportion and Chi-squared test of a multinomial experiment.
• E)Chi-squared test of a multinomial experiment and Chi-squared test of a contingency table.

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Definitions:

Net Income

The company's total earnings following the deduction of all costs, taxes, and expenses from the overall revenue.

Inventory Management

The overseeing and controlling of the ordering, storage, and use of components that a company will use in the production of the items it will sell as well as the managing of quantities of finished products for sale.

Retail Method

An inventory valuation method used in retail, estimating inventory value by applying a fixed percentage to the retail price of the inventory.

Estimating Inventory

A method used to approximate the value or quantity of inventory that a business has on hand at a certain point in time, often using historical data or statistical models.