When Can the Z-Test Be Used in Statistical Hypothesis Testing

question 18

Multiple Choice

When can the z-test be used in statistical hypothesis testing?

• A)When the measure of central tendency used for the raw scores is the median
• B)When the raw scores are transformed from a nominal scale to a ratio scale
• C)When the raw score population's standard deviation is known
• D)When the z-test standard deviation is known

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Definitions:

Price Ceiling

A price ceiling is a government-imposed limit on how high a price can be charged for a product, service, or resource, usually set below the market equilibrium price to make goods more affordable.

Market Equilibrium

A point in a market where the quantity of goods supplied is equal to the quantity of goods demanded.

Consumer Surplus

The gap between what consumers are ready and able to expend for a good or service and what they actually spend.

Price Ceiling

A legally imposed limit on the price that can be charged for a good or service, typically set below the equilibrium price.