A(n) _____ Hypothesis Is a Statistical Hypothesis That Is Tested

question 33

Multiple Choice

A(n) _____ hypothesis is a statistical hypothesis that is tested for possible rejection under the assumption that it is True.

• A) marginal
• B) test
• C) null
• D) theoretical
• E) alternative

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Definitions:

Marginal Cost

Marginal cost refers to the increase or decrease in the total cost when the quantity produced is incremented by one unit.

Fixed Cost

Costs that remain constant regardless of the amount of goods produced or sold, including rent, wages, and insurance premiums.

Sunk Cost

Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.

Average Fixed Cost

The cost incurred for fixed inputs (rent, salaries) divided by the quantity of output produced, which decreases as production increases.