Which Best Represents the Correct Meaning of Statistical Significance

question 7

Multiple Choice

Which best represents the correct meaning of statistical significance?

• A) The differences found in sample data may be found in other sample data.
• B) The differences found in sample data may be assumed to exist in the remainder of the sample.
• C) The differences found in the sample may be assumed to exist in the population.
• D) The differences found in the population may be assumed to exist in the sample.
• E) A significant difference means that managers will be able to use the difference in order to develop effective marketing strategies.

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Definitions:

Financial Decision Making

The process of making choices related to finance, such as investments, budgeting, and funding, based on analyses and strategies.

Recording

The process of entering financial transactions and other information related to business operations into the accounting system.

Owner's Equity

After settling all obligations, the balance of an entity's assets stands as a representation of the shareholder or owner's equity.

Additional Investments

Funds or assets that an investor or business owner contributes to a business beyond the initial investment, to support operations or expansion.