Which One of the Following Nonparametric Methods Can Be Used

question 8

Multiple Choice

Which one of the following nonparametric methods can be used to determine the strength of the relationship between two variables?

• A)Wilcoxon signed rank test
• B)Sign test
• C)Kruskall-Wallis test
• D)Wilcoxon rank sum test
• E)Spearman's rank correlation test

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell at each price level.

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service changes significantly in response to a change in price.

Total Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Elastic Demand

Elastic demand refers to a situation where the quantity demanded of a product changes significantly in response to changes in its price.