The Western City Wishes to See If There Is a Relationship

question 18

Multiple Choice

The western city wishes to see if there is a relationship between the summer temperature and the amount
of electricity used (in kilowatts) .
-If a correlation coefficient calculated for n = 14 and is found to be r = 0.856, what is the test value for the t - test?

• A)4.059
• B)5.736
• C)2.851
• D)6.374

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Definitions:

Latin Hypercube Sampling

A statistical method used in simulations that stratifies the sample space to ensure a more comprehensive exploration of variables across their entire range of values.

Assumption's Probability Distribution

The theoretical distribution of probabilities assigned to all possible values of a variable based on certain assumptions.

NPV

Net Present Value; a financial metric used to evaluate the profitability of an investment, calculated by subtracting the present value of cash outflows from the present value of cash inflows.

Percentage Of Risk

The proportion of risk involved in a particular investment or business decision, often expressed as a percentage.