Scenario 6

question 174

Multiple Choice

Scenario 6.2 Use the following to answer the questions.
GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for short line transport.
Refer to Scenario 6.2. If a GE Transportation researcher analyzes monthly sales data for a four-year time frame, looking for periodic fluctuations, the researcher is doing a ____ analysis.

• A) trend
• B) seasonal
• C) cycle
• D) random factor
• E) regression

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Definitions:

Average Sales

The mean amount of sales over a certain period, calculated by summing all sales figures and dividing by the number of sales transactions.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it marks the threshold for significance in hypothesis testing.

P-value

The odds of receiving outcomes in a test that are equally or more extreme than those observed, given the null hypothesis is assumed to be accurate.

Level of Significance

A threshold in statistical hypothesis testing below which a result is considered statistically significant.