Buyers, Suppliers, Substitute Products, Competitive Rivalry, and New Entrants All

question 3

True/False

Buyers, suppliers, substitute products, competitive rivalry, and new entrants all represent forces within an industry.

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Definitions:

Type I Errors

Mistakes made by falsely rejecting the null hypothesis when it is in fact true; also known as false positives.

Familywise Error

The overall likelihood that a Type I error (incorrect rejection of a true null hypothesis) will occur across a set of related hypotheses.

Type I Error

Error that occurs when the null hypothesis is true but the decision is made to reject the null hypothesis.

Probability

Likelihood of occurrence of a particular outcome of an event given all possible outcomes.