Use the Figure Above to Answer the Following Questions

question 167

Multiple Choice

use the figure above to answer the following questions :
-In the figure,point E is

• A) an efficient point.
• B) unattainable with current resources.
• C) an inefficient point.
• D) the equilibrium.
• E) evidence that trade does not enrich society.

---

Definitions:

P-value

The probability of observing the tested result, or one more extreme, if the null hypothesis is true.

α

Typically represents the level of significance in hypothesis testing, indicating the probability of rejecting the null hypothesis when it is true.

Type I Error

The statistical mistake of rejecting a null hypothesis when it is actually true, also known as a "false positive".

Type II Error

The error that occurs when the null hypothesis is falsely not rejected, missing the detection of an actual effect.