Caitlin, Owner of a Card Shop in a Small Shopping

question 298

Multiple Choice

Caitlin, owner of a card shop in a small shopping center, sells cards produced by a national company. Caitlin sells to final customers, so she is a

• A) merchant wholesaler.
• B) retailer.
• C) rack jobber.
• D) channel captain.

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Definitions:

Null Hypothesis

An assumption in hypothesis testing that there is no significant difference or effect.

.05

Often signifies the alpha level used in hypothesis testing that represents a 5% risk of concluding that a difference exists when there is no actual difference.

Probability

Probability is a measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.

Non-rejection

Refers to the decision in statistical hypothesis testing where there is insufficient evidence to discard the null hypothesis.