For a Sample of 10 Observations Drawn from a Normally

question 63

Multiple Choice

For a sample of 10 observations drawn from a normally distributed population, we obtain the sample mean and the sample variance as 50 and 75, respectively. We want to determine whether the population variance is greater than 70. The test statistic is

• A) 1.645.
• B) 3.325.
• C) 9.642.
• D) 16.919.

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Definitions:

Price Discounting

A strategy of reducing the selling price of goods or services to attract customers or drive sales volume.