A Researcher Performed a Study to Determine Whether an Association

question 48

Multiple Choice

A researcher performed a study to determine whether an association exists between political party affiliation and income.She obtained the following sample data.Use a 1% level of significance.

= 27.831;P-value = 0.0000135

• A)Reject the null hypothesis.The data provide sufficient evidence to conclude that political party affiliation is distributed uniformly for each income bracket.
• B)Do not reject the null hypothesis.There is insufficient evidence to conclude that there is a relationship between income and political party affiliation.
• C)Reject the null hypothesis.The data provide sufficient evidence to conclude that there is a relationship between income and political party affiliation.
• D)Do not reject the null hypothesis.The data provide sufficient evidence to conclude that there is a relationship between income and political party affiliation.
• E)Reject the null hypothesis.There is insufficient evidence to conclude that there is a relationship between income and political party affiliation.

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Definitions:

Income Summary

An account used during the closing process that summarizes revenues and expenses for a specific accounting period before the net income or loss is transferred to retained earnings.

Inventory

Items meant for sale during regular business operations, currently being produced for that purpose, or intended as materials to be used in manufacturing.

Periodic System

An inventory system where inventory records are updated at specific intervals, as opposed to continuously.

Cost of Goods Sold

Cost of Goods Sold (COGS) refers to the direct costs attributable to the production of the goods sold by a company.