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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A business statistics professor indicates that students who receive higher than an 80 on the final exam will receive at least a B- in the course.The scores for a random sample of 24 students are listed below.
-Which nonparametric method is appropriate for analyzing this set of test scores?
Marginal Cost
The additional cost incurred in producing one more unit of a good or service.
Variable Cost
Costs that change in proportion to the level of production or sales activity of a business.
Total Cost
The overall expense incurred in the production of goods or services, including both fixed and variable costs.
Fixed Cost
Expenses that do not change with the level of production or sales, such as rent, salaries, or insurance premiums.
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