If a Test Has Been Found to Be Statistically Significant

question 97

Multiple Choice

If a test has been found to be statistically significant at the .05 level, the probability of getting this result by chance alone is

• A) exactly 5 times out of 100.
• B) equal to or more than 5 times out of 100.
• C) equal to or less than 5 times out of 100.
• D) more than 5 times out of 1,000.

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Definitions:

Buyer's Inventory

The stock of goods a purchaser has on hand, which represents a current asset on the balance sheet that is intended for resale or use in production.

Credit Terms

The conditions, including payment timing and interest, under which credit will be extended to a borrower.

Discount

A reduction in the price of goods or services, typically offered to prompt sales or recognized in the context of financial instruments.