A Researcher Found a Statistically Significant One Point Difference in Mean

question 93

Multiple Choice

A researcher found a statistically significant one point difference in mean ACT scores between students who studied on their own and those who attended a professional test-taking seminar.The researcher can conclude that

• A) the means for the groups are statistically different from each other.
• B) the professional training seminar produces considerably better ACT scores.
• C) professional training is necessary for better ACT scores.
• D) None of these is true.

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Definitions:

Variable Cost

A cost that varies with the level of output or sales, such as raw materials or direct labor costs.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much contributes towards covering fixed costs and generating profit.

Fixed Costs

Expenses that do not change with the level of production or sales activities, such as rent, insurance, and salaries, over a certain period.

Composite Unit

A composite unit is an accounting measurement that combines the attributes of multiple units of a similar product or service into a single representation for easier management or evaluation.