A New Startup Was Able to Find Answers to Its

question 106

Multiple Choice

A new startup was able to find answers to its marketing research questions from Statista website.This is an example of _____.

• A)Big data
• B)Panel data
• C)External secondary data
• D)Internal secondary data
• E)Observation

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Definitions:

Significance Level

The significance level, often denoted by alpha, is the probability of rejecting the null hypothesis when it is true, utilized in hypothesis testing as a threshold for determining statistical significance.

Type I Error

The mistake of rejecting the null hypothesis when it is actually true, often represented by the symbol α.

Rejection Region

The range of values in hypothesis testing for which the null hypothesis is rejected, based on the chosen level of significance.

Two-Sided Hypothesis

A hypothesis test that allows for an effect in two directions, either greater than or less than a specific value, not limiting the expected effect to one direction.