I Two Examples of a Hypothesis Are: 1) Mean Monthly

question 76

Multiple Choice

i. Two examples of a hypothesis are: 1) mean monthly income from all sources for senior citizens is $841 and
2) twenty percent of juvenile offenders ultimately are caught and sentenced to prison.
Ii) Since there is more variability in sample means computed from smaller samples, we have more confidence in the resulting estimates and are less apt to reject null hypothesis.
Iii) We call a statement about the value of a population parameter a hypothesis.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (i) and, (ii) are correct statements but not (iii).
• E) All statements are false

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Definitions:

Behavioural Decision Model

A concept in psychology that examines the decision-making processes individuals use, including biases, judgments, and social influences.

Limited Information

A condition in decision-making processes where all necessary data or details are not available to the decision-maker.

Bounded Rationality

A concept suggesting that the cognitive limitations of the mind, and the finite amount of time available, limit human decision-making capabilities.

Limited Information

A situation where decision-makers do not have access to all the data or facts needed to make an informed decision.