1-81What Does the Notation P

question 19

Multiple Choice

1-81.What does the notation p < .05 next to a correlation mean?

• A)The probability that a correlation would occur purely by chance is less than 95 out of 100
• B)The probability that a correlation would occur purely by chance is less than 5 out of 100
• C)The probability that a positive correlation will be found purely by chance
• D)The probability that a negative correlation will be found purely by chance

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Definitions:

Estimation Uncertainty

The degree of approximation involved in certain accounting estimates, which may affect the financial statements.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit over a specific period.

Revenue and Expense Accounts

Accounts used in accounting to track the income generated and expenses incurred by a business, integral to determining net profit or loss.

Income Summary

An account in accounting used to gather all revenue and expenses for a period to calculate net income (or loss).