A Statistical Test Conducted to Determine Whether to Reject or Not

question 81

Multiple Choice

A statistical test conducted to determine whether to reject or not reject a hypothesized probability distribution for a population is known as a

• A)contingency test
• B)probability test
• C)goodness of fit test
• D)None of these alternatives is correct.

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Definitions:

Standard Of Living

denotes the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Nominal GDP

Refers to the gross domestic product measured at current market prices, without adjusting for inflation.

Technological Change

A change in the methods of production and product innovation that leads to greater efficiency and productivity.

Unemployment

A situation where individuals who are capable of working and are actively seeking employment are unable to find a job.