Which Statistical Technique Is Appropriate When We Describe a Single

question 121

Multiple Choice

Which statistical technique is appropriate when we describe a single population of qualitative data with two or more categories?

• A) the z test of the difference between two proportions
• B) the chi-square goodness-of-fit test
• C) the chi-square test of a contingency table
• D) either (a) and (b)

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Definitions:

Inventory

Assets held for sale in the ordinary course of business, as well as materials and supplies used in producing goods available for sale.

Chart of Accounts

The Chart of Accounts is an organized list of all accounts in the general ledger of a company, used for recording transactions and building financial statements, categorized by assets, liabilities, equity, revenues, and expenses.

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.