If You Reject the Null Hypothesis, What Type of Error

question 128

Multiple Choice

If you reject the null hypothesis, what type of error might you be making?

• A) Type I
• B) Type II
• C) Type III
• D) cannot be determined

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Definitions:

Wage Rate

The amount of compensation paid to employees per unit of time worked, often expressed per hour or year.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a particular input, assuming all other inputs remain constant.

Wage Rate

The amount of money a worker is paid per unit of time, such as an hour or a month.

Marginal Revenue Product

The extra income produced by using an additional unit of a production input.