In a One-Tailed Hypothesis Test (Lower Tail) the Test Statistic

question 129

Multiple Choice

In a one-tailed hypothesis test (lower tail) the test statistic is determined to be -2. The p-value for this test is

• A)0.4772
• B)0.0228
• C)0.0056
• D)0.5228

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Definitions:

Economic Decisions

Choices made by individuals, businesses, or governments involving the allocation of resources to satisfy their needs and desires.

Correlated Risks

Risks that are linked in such a way that the occurrence of one affects the likelihood of the occurrence of another.

Agricultural Industry

The sector of the economy that deals with the production, processing, and distribution of food, fibers, and other goods derived from farming and related activities.

Screening

Using observable information about people to make inferences about their private information; a way to reduce adverse selection.