Statistical Significance ______________

question 20

Multiple Choice

Statistical significance ______________.

• A) suggests that a result would be highly probable by chance alone
• B) does not necessarily have anything to do with psychological importance
• C) is a likely outcome with a small sample
• D) occurs when the mean, median, and mode are identical in a data set

---

Definitions:

Profit-Sharing Plan

A corporate program in which a company shares a portion of its profits with its employees, typically in the form of a bonus or retirement contribution.

Scanlon Plan

A gainsharing program designed to encourage productivity and cost-saving initiatives by sharing the resultant financial gains with employees.

Labour Input

The total hours worked by employees or the effort put in by employees towards the production of goods or services.

Gain-Sharing Plans

Performance-based compensation strategies designed to encourage teamwork and improve productivity by sharing the financial gains with employees.