[Solved] Using options to place a bet on the direction in which you believe the market is likely to move is called: A)speculation. B)hedging. C)a covered position. D)a naked position. Test Statistic: A numerical value calculated from sample data during a hypothesis test, used to assess the strength of evidence against the null hypothesis. Population Proportions: The fraction or percentage of the population that possesses a particular property. Sample Size: The number of observations or dataset elements selected from a population used in statistical analysis, crucial for determining the reliability of the study findings. Two-Tail Test: A statistical hypothesis test in which the critical area of a distribution is two-sided and tests whether a sample is either greater than or less than a certain range of values.