If I Calculate the Probability of Obtaining a Particular Outcome

question 24

Multiple Choice

If I calculate the probability of obtaining a particular outcome when the null hypothesis is true, I must deal with

• A) the outcome.
• B) a sampling distribution.
• C) conditional probability.
• D) all of the above

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Definitions:

Extrapolation

The process of estimating, beyond the original observation range, the value of a variable on the basis of its relationship with another variable.

Predictive Analysis

The process of selecting, exploring, analyzing, and modeling data to create better business outcomes.

Business Outcomes

The results, achievement, or consequences that a company experiences as a direct or indirect effect of its strategy and actions.

Technological Changes

The advancements and innovations in technology that alter how tasks are performed, services are delivered, and products are created or improved.