Which of These Is a Research Question Describing a Goodness

question 43

Multiple Choice

Which of these is a research question describing a goodness of fit test?

• A) Is this preference for our product likely given a population mean of 8?
• B) Are there differences in preferences for our product between groups?
• C) Between our three products, is one chosen more often by men?
• D) When sampling each of our products, which is most often chosen as best?

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Definitions:

Market Price

is the current price at which an asset or service can be bought or sold in the open market.

Marginal Cost

The elevation in aggregate expenditure triggered by the output of one supplementary unit of a good or service.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Sales Revenue

The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.