Lines Showing the Alternatives from Decision Nodes and the Outcomes

question 10

Multiple Choice

Lines showing the alternatives from decision nodes and the outcomes from chance nodes are called

• A)weights.
• B)payoffs.
• C)diagonals.
• D)branches.

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Definitions:

Standard Error

A measure of the statistical accuracy of an estimate, often the standard deviation of the sampling distribution of a statistic.

Critical Values

These are threshold points on the scale of the test statistic that delineate the region where the null hypothesis is rejected, essential in determining the significance of the test outcome.

Alpha

The significance level, a threshold used in hypothesis testing indicating the probability of rejecting the null hypothesis when it is true.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or a statistical calculation.