Which of the Following Definitions Best Describes Statistical Power

question 1

Multiple Choice

Which of the following definitions best describes statistical power?

• A) The sample size determines the statistical power of a test.
• B) The probability that the test will reject the null hypothesis when it is false.
• C) The probability that the test will reject the null hypothesis when it is true.
• D) A test that can detect even small differences.

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Definitions:

Expected Opportunity Loss

A statistical concept that calculates the expected amount of loss for not choosing the best alternative.

Gross Profits

The financial gain obtained after subtracting the cost of goods sold from total revenue, indicating the efficiency of a company’s production process.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Expected Opportunity Loss

A statistical determination of potential loss due to not selecting the optimal choice among different options.