The Same Entrepreneurs in the Above Study Are Asked to Rate

question 9

Multiple Choice

The same entrepreneurs in the above study are asked to rate a third business plan (C) . What test would be used to see if there is a significant difference in potential success ratings amongst the three business plans, once again assuming that a non-parametric test is necessary?

• A) Mann-Whitney test
• B) Wilcoxon signed-rank test
• C) Friedman test
• D) Kruskal-Wallis test

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Definitions:

Pooled Variance

An estimate of variance across different samples or groups that assumes the underlying population variances are equal.

T-Statistic

A type of test statistic calculated to determine if a hypothesis should be accepted or rejected, commonly used in a t-test to compare means.

Degrees of Freedom

The number of independent values or quantities that can vary in the analysis without breaking any constraints, relevant in statistical tests to assess the validity of the test.

Preservatives

Substances used in food processing and preservation to prevent spoilage and decay caused by microbial growth or undesirable chemical changes.