Examlex

Solved

Robin Inc Feared That the Average Company Loss Is Running Beyond

question 14

Multiple Choice

Robin Inc. feared that the average company loss is running beyond $34,000. It initially conducted a hypothesis test on a sample extracted from its database. The hypothesis was formulated as H0: average company loss $34,000 vs. H1: average company loss > $34,000. The test resulted in favor of Robin Inc.'s loss not exceeding $34,000. Detailed study of company accounts later revealed that the average company loss had run up to $37,896. Which of the following errors were made during the hypothesis test?


Definitions:

Ethnography

A naturalistic method based on studying people in their own environment in order to understand the meanings they attribute to their activities; also, the written work that results from the study.

Social Atomization

The breakdown of social bonds between an individual and their community or society, leading to isolation and fragmentation of social life.

Chris McCandless

An American hiker and adventurer best known for his travels to Alaska and the circumstances of his death, which were documented in the book “Into the Wild.”

Wilderness

Undeveloped land that has not been significantly modified by human activity, often preserved for its natural condition.

Related Questions