Which of the Following Best Explains How to Find the Test

question 7

Multiple Choice

Which of the following best explains how to find the test statistic for the one-sample sign test?

• A) Scores above the median are assigned a plus sign (+); scores below the median are assigned a negative sign (-); the test statistic is the number of pluses or minuses, whichever occurs most often.
• B) Scores are correlated as either positive (+) or negative (-); the test statistic is the extent to which scores are positively or negatively correlated.
• C) Scores are coded as being consistent (+) or inconsistent (-) with the null hypothesis; the test statistic is the number of pluses or minuses, whichever occurs most often.
• D) The variability of scores is compared with the variance stated by the null hypothesis; larger variability is considered a sign that the data are significant.

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Definitions:

Relevant Costs

Costs that should be considered in decision-making because they vary depending on the choices available.

Breaking Even

Refers to the point at which total revenues equal total costs or expenses, resulting in no profit or loss for a business.

Selling Price

The amount for which a product is sold to the customer, determining the revenue generated from sales.

Financial Advantage

The benefit gained in financial terms, often through investment decisions, operational improvements, or strategic actions.