A Wine Magazine Wants to Know If Chefs Can Tell

question 56

Multiple Choice

A wine magazine wants to know if chefs can tell the difference between duck liver pâté and wet dog food.Eighteen chefs were asked to rate both the pâté and dog food on a scale from 1 to 5,with 1 corresponding to "inedible" and 5 to "very tasty." The results are shown in the following table. Using the p-value approach and α = 0.05,the appropriate conclusion is ________.

• A) do not reject the null hypothesis;conclude chefs prefer pâté
• B) reject the null hypothesis;conclude there is a difference in the preference between pâté and dog food
• C) reject the null hypothesis;we cannot conclude there is a difference in the preference between pâté and dog food
• D) do not reject the null hypothesis;conclude nothing

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Definitions:

Matures

The point in time when a financial obligation, such as a bond or loan, reaches its due date and the principal amount must be repaid to investors or creditors.

Subordinated Debt

A type of loan ranked below other loans with respect to claims on assets or earnings in the event of a liquidation or bankruptcy.

Appreciation

An increase in the value of an asset over time, often due to changes in market demand or supply, inflation, or other economic factors.

Market Yield

The interest rate that investors demand for buying securities currently available in the market.