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If your income is $40,000 and you pay taxes of $4,650, what is your average tax rate? Show your work.
Critical Value
The threshold value that the test statistic must exceed in order for the null hypothesis to be rejected in a hypothesis test.
Significance Level
The threshold chosen by the researcher for rejecting the null hypothesis; commonly set at 0.05 or 5%.
Null Hypothesis
A default hypothesis that there is no difference or effect, used as a starting point for statistical testing.
Experimental Error
The variability in data that cannot be attributed to the variables being studied, often resulting from unknown or uncontrollable factors.
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