Using Applications on Smartphones and Tablets to Buy and Sell

question 24

Multiple Choice

Using applications on smartphones and tablets to buy and sell products is known as ________ commerce.

• A) smart
• B) remote
• C) mobile
• D) web

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Definitions:

Critical Value

A point on a statistical distribution that represents the threshold for significance testing, helping decide whether to reject the null hypothesis.

Alpha

The pre-determined significance level in hypothesis testing, often set at 0.05, which defines the likelihood of observing a result at least as extreme as the one seen in the sample data if the null hypothesis is true.

T-statistic

A type of statistic used in hypothesis testing, calculated as the ratio of the departure of an estimated parameter from its hypothesized value to its standard error.

Critical Value

A threshold in hypothesis testing, which the test statistic must exceed to reject the null hypothesis.