If We Fail to Reject H₀

question 21

Multiple Choice

If we fail to reject H₀,

• A) we have gained support for our alternative hypothesis.
• B) the evidence does not show that treatment was effective.
• C) the evidence suggests that treatment was effective.
• D) our obtained value had a low probability of occurrence.

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Definitions:

Business Perspective

This refers to the viewpoint or approach to decision-making undertaken from the standpoint of business strategy and outcomes.

Perfectly Competitive Labor Market

An idealized labor market scenario where there are many employers and employees, no single entity can influence wages, and all workers are fully informed and mobile.

Unionized Firms

Companies where a majority of workers are members of a labor union, which represents them in negotiations with management.

Employment Growth

An increase in the number of jobs available within a certain industry, sector, or economy.