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Twelve runners are asked to run a 10-kilometer race on each of two consecutive weeks.In one of the races,the runners wear one brand of shoe and in the other,a different brand.The brand of shoe they wear in each race is determined at random.All runners are timed and are asked to run their best in each race.The results (in minutes) are given below. Use the sign test for matched pairs to determine if there is evidence that times using Brand 1 tend to be faster than times using Brand 2.What are the hypotheses we wish to test?
Acid-Test Ratio
A financial indicator that assesses the capacity of a business to settle its short-term obligations using its liquid assets.
Single-Step Income Statement
A form of income statement where all expenses are subtracted from total revenue in one step to arrive at net income.
FOB Destination
A term used in shipping indicating that the seller is responsible for the freight costs and owns the goods in transit until they are delivered to the buyer's location.
Merchandise Inventory
The goods a retail store has purchased and intends to sell to customers, representing one of the retailer's primary assets.
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