A Particularly Useful Excel Function in the Formulation of Transportation

question 13

Multiple Choice

A particularly useful Excel function in the formulation of transportation problems is the:

• A) IF function 
• B) SUMIF function 
• C) SUMPRODUCT function 
• D) NPV function

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Definitions:

Null Hypothesis

A hypothesis that assumes there is no statistical significance in a set of given observations and that any observed difference is due to sampling or experimental error.

P-Value

The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.

P-Value

The probability of observing a test statistic at least as extreme as the one observed, under the assumption that the null hypothesis is true.

Level of Significance

The probability of rejecting the null hypothesis when it is actually true, used as a threshold in hypothesis testing.