The Dalton Company Has Recently Made a Decision to Build

question 61

Multiple Choice

The Dalton Company has recently made a decision to build a new plant in Denver. In making this decision it used data supplied by the U.S. Census Bureau. For the Dalton Company, these data are examples of:

• A) primary data.
• B) secondary data.
• C) reliable data.
• D) experimental data.

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Definitions:

α

In statistics, α (alpha) typically represents the level of significance, the probability of rejecting the null hypothesis when it is actually true.

Null Hypothesis

A hypothesis that assumes no statistical significance exists in a set of given observations and that any observed difference is due to chance.

T = 1.965

A specific value often used in statistical analysis, particularly in hypothesis testing, where it represents a critical value in a t-distribution.

Critical Value

A point on the test distribution that is compared with the test statistic to decide whether to reject the null hypothesis.