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Instruction 9-1 a Student Claims That She Can Correctly Identify Whether a Whether

question 84

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Instruction 9-1
A student claims that she can correctly identify whether a person is studying a business or science major by the way the person dresses. Suppose in actuality that if someone is studying a business major, she can correctly identify that person as a business student 87% of the time. When a person is studying a science major, the student will incorrectly identify that person as a business student 16% of the time. Presented with one person and asked to identify the area of study of this person (who is studying either a business or science major) , she considers this to be a hypothesis test with the null hypothesis being that the person is a business student and the alternative that the person is a science student.
-Referring to Instruction 9-1,what would be a Type II error?

Comprehend the dynamics of low-cost strategies within competitive industries.
Evaluate how buyer power influences a company's ability to capture value.
Understand how product elasticity affects company strategy and consumer demand.
Identify strategies that firms can use to reduce competition and enhance market position.

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