If You Reject the Null Hypothesis, Which of the Following

question 16

Multiple Choice

If you reject the null hypothesis, which of the following should you avoid?

• A) Tentatively accepting the alternative hypothesis
• B) Claiming that your finding is statistically significant
• C) Claiming that you have proven the alternative hypothesis to be true
• D) Making sure that your result also is practically significant

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Definitions:

Price-leadership Model

A market strategy where one leading company sets the price for goods or services, and others in the industry follow suit.

Dominant Firm

A company that has a major share of total sales in a particular market, giving it significant control over market prices and competition.

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share, leading to limited competition.

Dominant Price Leader

A firm that has the biggest market share in an industry and whose price changes are usually followed by other firms in the market.