Which Statement Is Incorrect

question 195

Multiple Choice

Which statement is incorrect?

• A)The null hypothesis contains the equality sign.
• B)When a false null hypothesis is not rejected,a Type II error has occurred.
• C)We reject the null hypothesis whenever the p-value is less than the significance level.
• D)Rejecting the null hypothesis when it should not be rejected is a Type I error.
• E)If we fail to reject the null hypothesis,then it is proven that null hypothesis is true.

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Definitions:

Estimated Life

The expected period over which an asset is useful to the owning entity and can generate revenue, used for calculating depreciation.

Residual Value

The estimated salvage value of an asset at the end of its useful life, influencing depreciation calculations.

Present Value Tables

Tables used to find the present value of a future amount of money or stream of cash flows given a specified rate of return.

Original Investment

The initial amount of money used to purchase an asset or start a project, forming the basis for calculating returns or profit.