Which of the Following Is Not One of the Assumptions

question 47

Multiple Choice

Which of the following is not one of the assumptions for the z-test?

• A) A normal population distribution.
• B) σ is unknown.
• C) Independent and random selection of subjects.
• D) Interval or ratio scores.

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Definitions:

Elasticity Coefficient

A numerical measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in one of its determinants, such as price.

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a price change.

Substitution Effect

The change in consumption resulting from a change in the relative prices of goods, leading consumers to substitute one good for another.

Relative Price

The price of one good or service compared to another, usually expressed as a ratio or quotient.