Which of the Following Are True About Type II Error

question 24

Multiple Choice

Which of the following are true about Type II error?

• A)It is more likely to occur when p < 0.01 rather than when p < 0.05.
• B)It is extremely likely to occur when p < 0.001.
• C)It occurs when the null hypothesis is true but rejected.
• D)It is a possibility only when there are statistically nonsignificant results in a study.
• E)It is a possibility only when there are statistically significant results in a study.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large portion of the market, potentially leading to limited competition and higher prices for consumers.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the total quantity of the good that all consumers in the market are willing to purchase at that price.

Profit-maximizing Output

The point of production where a company attains its maximum profit, occurring when marginal revenue is equal to marginal cost.

Tacit Collusion

Collusion occurs when price- and quantity-fixing agreements among producers are explicit. Tacit collusion occurs when such agreements are implicit.