In Hypothesis Testing, the Alternative Hypothesis

question 16

Multiple Choice

In hypothesis testing, the alternative hypothesis:

• A) is always implicit
• B) is sometimes stated
• C) will be supported if the stated hypothesis is not supported
• D) will not be supported if the stated hypothesis is supported
• E) All of the above are true.

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Definitions:

Sunk Cost

Expenses that were previously incurred and cannot be reclaimed.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, essentially what is sacrificed when a particular choice is made.

Differential Cost

The variation in overall expenses incurred from choosing one option instead of another.

Machine

An apparatus used for a specific purpose in industrial settings, commonly for manufacturing, processing, or shaping materials.