A Pawn Shop Claims to Sell Used Kindles for About

question 13

Multiple Choice

A pawn shop claims to sell used Kindles for about the same price as Amazon or eBay. Both online retailers sell used Kindles for around $150. Below are recent Kindle sales prices for the pawn shop. Using the p-value approach and α = 0.05, the appropriate conclusion is ________.

• A) to reject the null hypothesis; we cannot conclude the median sale price is greater than $150
• B) do not reject the null hypothesis; we cannot conclude the median sale price is greater than $150
• C) do not reject the null hypothesis; we can conclude the median sale price is greater than $150
• D) to reject the null hypothesis; we can conclude the median sale price is greater than $150

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Definitions:

Intrinsic Reward

A reward or form of motivation that comes from within an individual, driving behavior for the inherent satisfaction or pleasure derived from the activity itself.

Extrinsic

Originating from outside an individual, often referring to motivations or rewards that are external rather than internal.

Implicit

Something implied or understood though not directly expressed.

Explicit

Something stated clearly and in detail, leaving no room for confusion or doubt.