After Graduating from High School,Steve Had the Following Three Choices

question 169

Multiple Choice

After graduating from high school,Steve had the following three choices for his immediate future,listed in order of preference: (1) attend our campus, (2) work in a printed circuit board factory,or (3) attend a rival college.His opportunity cost of going to college here includes which of the following?

• A) The cost of books and supplies at the rival college
• B) The income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition,textbooks,etc. )
• C) The benefits he could have received from going to the rival college
• D) Only the tuition and fees paid for taking classes here
• E) Cannot be determined from the information given

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Definitions:

Null Hypothesis

A statement for a statistical test that proposes there is no effect or no difference, serving as the default assumption to test against.

Alternative Hypothesis

A statistical hypothesis that contradicts the null hypothesis, suggesting there is an effect or a difference.

One-tailed Test

A statistical test where the region of rejection is on only one side of the sampling distribution.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it is a threshold used to determine the critical region for statistical significance testing.