Your Value of a Statistic Such as the T-Test Is

question 121

Multiple Choice

Your value of a statistic such as the t-test is greater than the critical value for α = .05 but less than the critical value for α = .01; consequently, you ______ the null hypothesis and state the level of significance as ______.

• A) reject; p > .05
• B) do not reject; p > .01
• C) reject; p < .01
• D) reject; p < .05

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Definitions:

Unit Material Cost

The cost attributed to a single unit of production, including direct materials used in creating that unit.

Physical Units

A method of measuring output or production volume in a process costing system using actual physical units.

Total Costs

The complete sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, measured in terms of the number of finished units those in-process items represent.