A Professor Was Interested in Determining Whether the Prices of New

question 7

Multiple Choice

A professor was interested in determining whether the prices of new textbooks in the bookstore were higher than if purchased online. She selected 6 textbooks and priced each at the bookstore and online. Which statement is true at 5% significance level?

• A) There is not enough evidence to suggest that the prices of new textbooks in the bookstore were higher than if purchased online, on average.
• B) There is strong evidence that the prices are higher in the bookstore.
• C) We are 95% sure that the prices are higher online.
• D) There is strong evidence that the prices in the bookstore and online are different.
• E) We are 95% sure that the prices in the bookstore and online are exactly the same.

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Definitions:

Drive

An inner urge that motivates individuals to accomplish goals, often influenced by biological, psychological, and societal factors.

Motivation

The reason or reasons one has for acting or behaving in a particular way; in a work context, it often refers to the factors that drive employees to achieve business objectives.

Cognitive Ability

The capacity of an individual to perform the various mental processes of reasoning, remembering, understanding, problem solving, and decision making.

Business Knowledge

Understanding of the aspects and functions of businesses, including management, operations, finance, and marketing.