The Following Are the Ratings (0 to 4) Given by 12

question 13

Multiple Choice

The following are the ratings (0 to 4) given by 12 individuals for two possible new flavors of soft drinks. Wilcoxon rank-sum is to be used. What is the sum of the ranks for flavor #1?

• A) 144
• B) 139
• C) 156
• D) 153

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Definitions:

Demand Curve

An illustration that depicts the connection between how much of a product consumers want to buy and its cost.

Perfectly Inelastic

A situation in demand where the quantity demanded does not change regardless of the change in price.

Perfectly Elastic

This describes a situation where a small change in price leads to an infinite change in the quantity demanded or supplied.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.