An Energy Analyst Wants to Test If U

question 40

Multiple Choice

An energy analyst wants to test if U.S. oil production is random over time. The analyst has monthly production values for the two years. The analyst finds 12 months are above the median, 12 months are below the median, six runs are below the median, and five runs are above the median. Using the p-value approach and α = 0.01, the appropriate conclusion is ________.

• A) do not reject the null hypothesis; we can conclude oil production is not random
• B) reject the null hypothesis; we can conclude oil production is not random
• C) reject the null hypothesis; we cannot conclude oil production is not random
• D) do not reject the null hypothesis; we cannot conclude oil production is not random

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Definitions:

Managed Care Plan

A type of health insurance plan that contracts with medical providers and facilities to provide care for members at reduced costs.

Health Maintenance Organization

A type of health insurance plan that gives access to certain doctors and hospitals, often emphasizing prevention and wellness.

Disability Insurance

A type of insurance coverage that provides income in the event a worker is unable to perform their job duties due to a disability.

Short-Term Plans

Strategies or objectives set to be achieved in the immediate future, typically within a year.