Which of the Following Is Correct

question 18

Multiple Choice

Which of the following is correct?

• A)When sample size increases, both α and β may decrease.
• B)Type II error can only occur when you reject H₀.
• C)Type I error can only occur if you fail to reject H₀.
• D)The level of significance is the probability of Type II error.

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Definitions:

Private Good

A product or service that is excludable and rivalrous, meaning its consumption by one individual prevents its consumption by another.

Optimal Level

Optimal Level refers to the most efficient, beneficial, or profitable position or state for a particular process, activity, or economic outcome.

Public Good

A good that is non-excludable and non-rivalrous, meaning it is accessible to all and one individual's use does not diminish its availability to others.

Preferences

Individual choices or prioritizations that indicate the degree of personal satisfaction or value someone derives from various options.