DA0-002 Data Analysis Practice Question
A financial analyst wants to compare the mean annual returns of three different investment strategies. Which statistical test is most appropriate?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
One-way ANOVA
ANOVA is used to compare means of three or more groups.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Chi-square test
Why it's wrong here
Chi-square test is for categorical variables, not means.
- ✗
Paired t-test
Why it's wrong here
A paired t-test compares two related groups, not three.
- ✓
One-way ANOVA
Why this is correct
ANOVA can compare means of three or more independent groups.
- ✗
Two-sample t-test
Why it's wrong here
A two-sample t-test compares only two independent groups.
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