If the P-Value for a Hypothesis Test Is 0

question 63

Multiple Choice

If the p-value for a hypothesis test is 0.07 and the chosen level of significance is α = 0.05, then the correct conclusion is to ________.

• A) reject the null hypothesis
• B) not reject the null hypothesis
• C) reject the null hypothesis if σ = 10
• D) not reject the null hypothesis if σ = 10

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Definitions:

User Cost

The cost of using a durable good, including depreciation, interest lost by owning the good, and any maintenance expenses.

Extraction Costs

The expenses associated with the removal of raw materials from the earth or their separation from a mixture.

Total Costs

The entire sum of all expenses incurred by a business in producing goods or services, including both fixed and variable costs.

Price Of Oil

The cost per barrel at which crude oil is bought and sold in the global market.