Which of the Following Is an Example of an Opportunity

question 90

Multiple Choice

Which of the following is an example of an opportunity cost?

• A) Renting an apartment near school
• B) Taking a class instead of working at your part-time job
• C) Setting aside money for paying income tax
• D) Purchasing automobile insurance

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Definitions:

T-statistic

A ratio that is derived from the standardized difference between two sample means divided by the standard error of the difference, used in hypothesis testing.

Sample Mean

The average value computed from a sample set of data, representative of the population mean.

Hypothesized Population Mean

This is an assumed average of a particular characteristic in a population, used as a standard for hypothesis testing in statistical analysis.

Region of Rejection

The area in the tail(s) of a statistical distribution where, if a test statistic falls, the null hypothesis is rejected in favor of the alternative hypothesis.