Let's Check on Whether You Are Rationally Ignorant

question 172

Multiple Choice

Let's check on whether you are rationally ignorant. Which of the following four items is the biggest expenditure in the federal government's budget?

• A) Social Security
• B) welfare
• C) foreign aid
• D) health care

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Definitions:

Test Statistic Value

A value calculated from sample data that is used to make a decision in a hypothesis test.

Critical Value

A threshold in hypothesis testing that defines the boundary or cutoff for deciding whether to reject the null hypothesis, based on the observed data.

Significance Level

The probability threshold below which the null hypothesis is rejected in a statistical test.

P Value

The probability of obtaining test results at least as extreme as the results actually observed during the test, assuming that the null hypothesis is correct.