Solved

Scenario - the Lynnette Company

question 16

Multiple Choice

Scenario - The Lynnette Company
The Lynette Company was founded in 1982 by Solomon and Andrea Lynette.It is currently based in Jakarta,Indonesia and plans to remain in the region due to the potential for continued market growth.The company provides modern office equipment to customers throughout Southeast Asia and has watched a steady rise in need for its products.
Last year,Lynette grossed over five million dollars in sales.It anticipates gross sales to more than double this year.The Lynette Company is pleased by the ample supply of workers from the local region available to help the company.The owners realize this area of the world has the potential to become an important global market.
-Which one of the following would most likely set guidelines for the Lynette Company to follow as it conducts its business in Southeast Asia?

Definitions:

Test Statistic

A value calculated from sample data that is used in a hypothesis test to decide whether to reject the null hypothesis.

T Test

A statistical hypothesis test used to compare the means of two groups and determine if they come from the same population by analyzing the difference.

T Value

A value calculated in a t-test that assesses the difference between two means relative to the variation in the data.

Critical Value

The threshold or point on the test distribution that is compared with the test statistic to determine whether to reject the null hypothesis.