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A business purchases equipment by paying $7,517 in cash and issuing a note payable of $19,410.Which of the following occurs?
Alpha
A threshold value used in hypothesis testing that defines the probability of making a Type I error, or rejecting a true null hypothesis.
Critical Value
A threshold in statistical testing that defines the boundary for rejecting the null hypothesis.
Hypotheses
A formulated assumption made based on limited evidence as a starting point for further investigation.
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