Which Is Not a Likely Area of Application of Statistics

question 3

Multiple Choice

Which is not a likely area of application of statistics in business?

• A)Auditing supplier invoices for correct payment
• B)Questioning the executives' strategic decisions
• C)Looking for patterns in a large marketing database
• D)Making forecasts of several key product lines

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Definitions:

F-test

A statistical test used to compare the variances of two populations to ascertain if they are equal or significantly different.

One-way ANOVA

A statistical test that assesses whether there are statistically significant differences between the means of three or more unrelated groups.

T-test

A statistical test used to compare the means of two groups or to compare a sample mean to a known value, assessing whether differences are statistically significant.

F-test

A statistical test used to determine if there are significant differences between the variances of two or more groups.