If the Consumer Price Index Was 232 in 2013 and 244

question 56

Multiple Choice

If the consumer price index was 232 in 2013 and 244 in 2015,how much did prices increase during this time period?

• A)4.9 percent
• B)5.2 percent
• C)6 percent
• D)12 percent

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Definitions:

Null Hypothesis

A hypothesis in statistics that assumes there is no significant difference or effect and serves as the default assumption in a hypothesis test.

Significance Level

A threshold used in hypothesis testing to determine whether to reject the null hypothesis, typically expressed as a probability such as 0.05 or 5%.

Type II Error

The failure to reject a false null hypothesis, also referred to as a "false negative."

Null Hypothesis

A default hypothesis that there is no significant difference or relationship between specified populations or variables.