A Survey Was Recently Conducted in Which Random Samples of Car

question 49

Multiple Choice

A survey was recently conducted in which random samples of car owners of Chrysler,GM,and Ford cars were surveyed to determine their satisfaction.Each owner was asked to rate overall satisfaction on a scale of 1 (poor) to 1000 (excellent) .The following data were recorded: If the analysts are not willing to assume that the population ratings are normally distributed and will use the Kruskal-Wallis test to determine if the three companies have different median ratings,which company has the smallest sum of ranks?

• A)Chrysler
• B)GM
• C)Ford
• D)All three are equal.

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Definitions:

Price Level

An index reflecting the overall current prices for a wide range of goods and services within the economy, averaged out.

Exchange-Rate Effect

Refers to the impact of changes in the exchange rate on a country's export and import prices, and subsequently on its trade balance.

Aggregate-Demand Curve

A graphical representation showing the relationship between the total quantity of goods and services demanded (aggregate demand) and the overall price level, all else being equal.

Foreign Exchange Markets

Markets where currencies are traded, enabling businesses and individuals to convert one currency into another for various purposes including trade, investment, and tourism.