I Want to Test $H _ { 0 } : p = .7 \mathrm { vs. } H _ { \mathrm { a } } : p \neq .7$

question 44

Multiple Choice

I want to test $H _ { 0 } : p = .7 \mathrm { vs. } H _ { \mathrm { a } } : p \neq .7$ using a test of hypothesis. If I concluded that $p$ is $.7$ when, in fact, the true value of $p$ is not $.7$ , then I have made a________

• A) Type I and Type II error
• B) correct decision
• C) Type II error
• D) Type I error

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Definitions:

Preferential Transfer

A financial transaction made by a debtor before declaring bankruptcy that benefits one creditor over others, often subject to reversal during bankruptcy proceedings.

Fraudulent Transfer

A transfer of property made by a debtor with the intention of defeating a creditor's collection efforts.

Aggregate Debt

The total amount of debt owed by an entity, combining all debts, loans, and financial obligations.

Bankruptcy Judges

Judicial officers who preside over court proceedings related to bankruptcy cases, determining the legal outcomes for debtors and creditors.