A Lock-Box System

question 1

Multiple Choice

A lock-box system:

• A)prevents unauthorized access to cash.
• B)slows down the time it takes to deposit cash to the bank.
• C)is more susceptible to fraud, since employees of the company have access to the cash.
• D)can only be used by very large companies.

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Definitions:

Matched Pairs

A statistical technique involving the pairing of observations or data sets based on certain criteria, often used in experiments to compare two groups while controlling for variables.

Ordinal Data

Ordinal data refers to a type of categorical data with a set order or scale to it, but without a consistent difference between each category.

Mann-Whitney Test

A nonparametric test used to assess whether there is a significant difference between two independent samples, an alternative to the t-test when certain assumptions are not met.

Sign Test

A non-parametric test used to determine if there is a significant difference between the median of two dependent samples.