Formulate the Indicated Conclusion in Nontechnical Terms

question 179

Multiple Choice

Formulate the indicated conclusion in nontechnical terms. Be sure to address the original claim.
-A skeptical paranormal researcher claims that the proportion of Americans that have seen a UFO, p, is less than 2 in every ten thousand. Assuming that a hypothesis test to support this claim has been conducted and that the
Conclusion is failure to reject the null hypothesis, state the conclusion in nontechnical terms.

• A) There is sufficient evidence to support the claim that the true proportion is less than 2 in ten thousand.
• B) There is sufficient evidence to support the claim that the true proportion is greater than 2 in ten thousand.
• C) There is not sufficient evidence to support the claim that the true proportion is less than 2 in ten thousand.
• D) There is not sufficient evidence to support the claim that the true proportion is greater than 2 in ten thousand.

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Definitions:

Misallocated Resources

Occurs when resources (like labor, capital, or materials) are not used in the most effective manner, often leading to inefficiencies or lost potential in production or service delivery.

Inequitable

Refers to a lack of fairness or justice in a situation or distribution of resources.

Public Goods

Commodities or services that are provided without profit to all members of a society, either by the government or a private individual or organization.

External Costs

Costs incurred as a result of an economic activity that are not reflected in the market price, often shouldered by society or the environment.