In Testing the Hypotheses: H0:  = 500

question 13

Multiple Choice

In testing the hypotheses: H0:  = 500
HA:  = 500,
If the value of the Z test statistic equals 2.03, then the p-value is:

• A)0.0424.
• B)0.4788.
• C)0.9576.
• D)0.0212.

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Definitions:

Risk-averse

Characterized by the preference to avoid risk, leading individuals or entities to choose the option with the least risk when faced with uncertain outcomes.

Expected Utility

A theory in economics that calculates the anticipated utility or satisfaction from a decision under conditions of uncertainty.

Utility

An indicator of pleasure or contentment obtained by customers from using products or services.

Risk Averse

A description of an individual's or entity's preference to avoid risk, favoring certainty in investment or economic decisions.