An Alpha of 0

question 20

Multiple Choice

An alpha of 0.01 means that a decision to ____ the null hypothesis has a ____ in 100 chance of being incorrect

• A)accept,1
• B)fail to reject,1
• C)reject,1
• D)reject,100

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Definitions:

Opportunity Costs

The cost of missing out on the next best alternative when making a decision.

Cash Balance

The amount of cash a company has available at any given time, including bank balances and cash on hand.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision. It represents the benefits that could have been received but were given up to take another course of action.

Cash Balance

The amount of cash a company or individual has available at any given time, reflecting liquidity.