If the Value of the Sample Mean Is Close

question 63

Multiple Choice

If the value of the sample mean is close enough to the hypothesized value μ₀ of the population mean μ,then:

• A)the value of μ₀ is definitely correct.
• B)the value of μ₀ is definitely wrong.
• C)we reject the null hypothesis.
• D)we cannot reject the null hypothesis.

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Definitions:

Types

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Wheeler-Lea Act

A U.S. law passed in 1938 that amended the Federal Trade Commission Act to prohibit unfair or deceptive acts or practices in commerce.

Fine

A fine is a monetary penalty imposed as a punishment for an infraction, denial of a rule, or a criminal offense, often paid to a governmental or regulatory authority.

Clayton Act

A U.S. antitrust law, enacted in 1914, aimed at increasing economic competition and preventing corporate behaviors that could lead to monopolies or restrain trade.