An Existing Condition, Situation or Set of Circumstances That Involves

question 9

Multiple Choice

An existing condition, situation or set of circumstances that involves uncertainty as to a possible gain, that will be resolved when one or more future events occur or fail to occur is:

• A) a contingent liability.
• B) a contingent asset.
• C) projected event.
• D) estimated value.

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Definitions:

Hypothesis Testing

A statistical method used to evaluate the plausibility of a hypothesis by using sample data.

Confidence Level

A measure of how certain one can be about the accuracy of the results obtained from a statistical test, often expressed as a percentage like 95% or 99%.

Descriptive Statistics

Statistical methods that summarize or describe a collection of data points, including measures like mean, median, and mode.