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A college student is thinking about running an ice cream truck over the summer. Which of the following would likely be a one-time expense of the business?
Two-Tail Test
A statistical test in which the critical area of a distribution is two-sided and tests whether a sample is greater than or less than a certain range of values.
Critical Values
Specific points on the scale of a statistical distribution that are associated with a specified significance level, used for hypothesis testing.
Rejection Regions
Specific areas in the distribution of a test statistic that, if the observed test statistic falls within, will lead to the rejection of the null hypothesis.
Standardized Test Statistic
A calculated statistic that measures the number of standard deviations a sample statistic lies from the null hypothesis, used in hypothesis testing.
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