Consider the Following to Answer the Question(s) Below

question 15

Multiple Choice

Consider the following to answer the question(s) below:
Vending machines on a college campus offer a variety of drinks. The purchasing agent believes that each type of drink is equally preferred by students and consequently orders equal quantities. The number of drinks sold from vending machines on this campus for the last six months is shown in the following table.

-At α = 0.05,

• A) we reject the alternative hypothesis.
• B) we fail to reject the null hypothesis.
• C) we conclude that the purchasing agent was correct.
• D) we reject the null hypothesis and conclude that the purchasing agent was not correct. The drink options are not equally preferred by the students.
• E) as the P-value is low (less than α), we conclude that all types of drinks are equally preferred by students.

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price within a specific time period.

Price Ceiling

A legal maximum on the price at which a particular good can be sold.

Cocoa Bean

The dried and fully fermented seed from which cocoa solids and cocoa butter are extracted, essential in chocolate making.

Government Study

Research or investigation conducted by or on behalf of government agencies to inform policy decisions, evaluate programs, or gather statistical data.