Assume That a Researcher Determines That a P-Value of 0

question 57

Multiple Choice

Assume that a researcher determines that a p-value of 0.01 or below determines significance. Listed below are several correlation coefficients and their respective significance levels. Which correlation coefficient demonstrates______________an association not likely due to chance (i.e., significant) ?

• A) 0.22, 0.06
• B) 0.75, 0.00
• C) -0.32, 0.15
• D) -0.76, 0.95
• E) 0.26, 0.10

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Definitions:

Optimal Order Quantity

Refers to the quantity of inventory that minimizes the total costs of inventory management, including ordering and holding costs.

Holding Costs

The expenses associated with storing inventory before it is sold, including warehousing, insurance, depreciation, and opportunity costs.

Ordering Cost

The expenses borne by a company when ordering goods from suppliers, which may include costs associated with processing and receiving the order.

Service Level Policy

A set of guidelines or standards that determine the quality and performance level of customer service operations.