Examlex
External equity exists when a firm's employees receive pay comparable to workers who perform similar jobs in other firms.
Type II Error
The error that occurs when a false null hypothesis is not rejected, also known as a "false negative."
Probability
The degree to which something is likely to happen, quantified as a number between 0 (impossible) and 1 (certain).
P-Values
Probabilities used to quantify the significance of findings, or the likelihood that the observed data occurred by chance under the null hypothesis.
Null Hypothesis
A statement in statistical analysis that assumes no significant difference or effect, serving as the default assumption to be tested against an alternative hypothesis.
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