At the End of 2012 Funtime Provided the Following Information

question 44

Multiple Choice

At the end of 2012 Funtime provided the following information about the project: $$\begin{array} { l l l } & \text { Costs incurred } &\text { Estimuted rast } \\\underline{\text { Year }} & \underline{\text { to dnte } }&\underline{ \text { remainine } }\\2012 & \$ 1,200,000 & \$ 600,000\end{array}$$

What percentage is playground complete?

• A) 62.5%
• B) 66.7%
• C) 55.6%
• D) 50.0%

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Definitions:

Type II Error

A statistical error in which a false null hypothesis is not rejected, also known as a 'false negative'.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists within a certain set of observations.

Significant Difference

A statistical measure indicating that the observed difference between two datasets is likely not due to random chance.

Confidence Interval

An assortment of values, coming from statistical review of samples, aiming to envelop the value of an unspecified population parameter.