"quantity"exercise:A nonparametric test
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Questions 1:
A nonparametric test is most appropriate when:
A 、comparing differences between means.
B 、data are given in ranks.
C、 data meet distributional assumptions.
Questions 2:
The bank discount yield of a $100,000 US Treasury bill with 90 days until maturity is 4.60%. The selling price of this bill is closest to:
A 、$98,863.
B、 $98,866.
C 、$98,850.
B is correct. A nonparametric test is used under three circumstances: 1) when the data do not meet distributional assumptions, 2) when the data are given in ranks, and 3) when the hypothesis does not concern a parameter. A is incorrect because tests related to differences between means concern a parameter. Nonparametric tests are used when the data do not concern a parameter or the data do not meet distributional assumptions. C is incorrect because when the data meet distributional assumptions, a parametric test is used instead of a nonparametric test.
【analysis】
B is incorrect. It is calculated using 365-day instead of 360-day, D = 0.046 × 100,000 × (90/365) = $1,134. The selling price = $100,000 – $1,134 = $98,866.
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