Which of the Following Does Not Need to Be Known

question 60

Multiple Choice

Which of the following does not need to be known in order to compute the p-value?

• A)knowledge of whether the test is one-tailed or two-tailed
• B)the value of the test statistic
• C)the level of significance
• D)None of these alternatives is correct.

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Definitions:

Variable Costs

Costs that change in proportion to the activity of a business.

Property Taxes

Taxes levied by local governments based on the assessed value of property, including land and buildings owned.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much contributes to covering the fixed costs.

Break-even Sales

The amount of revenue needed to cover both fixed and variable costs, resulting in no profit or loss.