The Competing Hypotheses for a Hypothesis Test Are as Follows

question 4

Multiple Choice

The competing hypotheses for a hypothesis test are as follows: H₀: The earth is flat.
H_a: The earth is round.
Describe what a Type I error and a Type II error would be here.

• A)A Type I error here would be to believe the earth is the center of the solar system.A Type II error would be to believe that the earth is the only place in the universe where you can get a good hamburger.
• B)A Type I error here would be to believe the earth is round when it's actually flat.A Type II error would be to believe that the earth is flat when it's actually round.
• C)A Type I error here would be to believe the earth is flat when it's actually round.A Type II error would be to believe that the earth is round when it's actually flat.
• D)A Type I error here would be to believe the earth revolves around the moon.A Type II error would be to believe that the sun revolves around the earth.
• E)A Type I error here would be to believe the earth revolves around the sun.A Type II error would be to believe that the sun revolves around the earth.

---

Definitions:

Price

The fiscal amount presumed, asked for, or remunerated in return for an item.

Apples

A type of fruit that grows on apple trees, known for its sweet taste and the wide variety of types available.

Utility Function

A mathematical representation of how a consumer derives satisfaction or utility from consuming goods and services.

Substitution Effect

The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with cheaper substitutes, holding utility constant.