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:

Harassment

Behavior that is intimidating, hostile, or offensive to another person, often in the workplace or social setting.

Demotion

The act of lowering an employee's rank or position, usually as a disciplinary measure or due to organizational restructuring.

Discharge

The termination of an employee's job position by the employer, often for cause such as misconduct or poor performance.

Aggregate Welfare

The total level of well-being or economic prosperity of a community, region, or country, considering all individuals and factors collectively.