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After being diagnosed with a terminal illness,Jude (a widower)makes gifts of all of his assets (over $5 million in value)to family members and dies shortly thereafter.Based on these facts,comment on the following assumptions.
Null Hypothesis
A statement asserting there is no effect or no difference, serving as the default or starting assumption in hypothesis testing.
Alternative Hypothesis
The hypothesis concluded to be true if the null hypothesis is rejected.
Population Parameter
A numerical value used as a summary measure for a population (e.g., the population mean, m, the population variance, s2, and the population standard deviation, s).
Type I Error
The error of rejecting H0 when it is true.
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