A Pawn Shop Claims to Sell Used Kindles for About

question 81

Multiple Choice

A pawn shop claims to sell used Kindles for about the same price as Amazon or eBay.Both online retailers sell used Kindles for around $150.Below are recent Kindle sales prices for the pawn shop. The p-value for the test is _______________.

• A) less than 0.01
• B) between 0.025 and 0.01
• C) between 0.05 and 0.025
• D) greater than 0.05

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Definitions:

Unemployment Rate

The rate of individuals in the workforce who are not employed but are seeking a job.

Random Sample

A sample in which each member of a population has an equal chance of being selected, ensuring the representativeness of the sample.

Statistics Canada

The national statistical office of Canada, which provides essential information on Canada's economy, society, and environment.

Alpha

A parameter in statistical hypothesis testing representing the probability of rejecting the null hypothesis when it is actually true (Type I error).