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Many Non-Scientists Confuse the Terms Hypothesis and Theory

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Essay

Many non-scientists confuse the terms hypothesis and theory.Explain the difference between these terms and the interaction between hypothesis testing and the construction of theories using the scientific method.


Definitions:

Default

Failure to make payments on a loan.

Loan Payments

Periodic payments made towards the balance and interest of a loan, following a predefined schedule until the loan is fully repaid.

Chapter 7

A provision under U.S. bankruptcy law for liquidating a debtor's assets to pay off creditors.

Unperfected Security Interests

A claim or lien on a debtor's property that has not met the legal requirements for enforceability against other creditors or in bankruptcy.

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