If We Want to Test for Differences Between Two Populations

question 66

True/False

If we want to test for differences between two populations of nominal data with exactly two categories,we can employ either the z-test of p₁ − p₂,or the chi-squared test of a contingency table.

---

Definitions:

Competitive Product

A product or service that competes in the market by offering similar or better benefits or value than its counterparts.

Feasibility Study

An analysis that evaluates the practicality and viability of a proposed project or system before significant resources are committed.

Exploratory Wells

Wells drilled to find and evaluate new areas of potential oil or natural gas reserves that have not been previously exploited.

Coefficient of Variation

A statistical measure that describes the standard deviation of an asset's returns relative to its mean, used as a risk assessment tool.