Which of the Following Tests Are Parametric Statistical Tests

question 50

Multiple Choice

Which of the following tests are parametric statistical tests:

• A) sign test
• B) chi-square test
• C) Wilcoxin signed ranks test
• D) none of these

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Definitions:

Price Elasticity

Price elasticity refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Demand Schedule

A chart displaying the amounts of a product or service that buyers are ready and capable of purchasing at different price levels.

Relatively Inelastic

Describes a situation where the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.

Demand Schedule

A demand schedule is a table that lists the quantity of a good that consumers are willing and able to purchase at various prices over a specific period.