You Are Testing a Two-Tailed Hypothesis

question 42

Multiple Choice

You are testing a two-tailed hypothesis. Based on the following results, the significance level is _____ and you _____ the null hypothesis.
 

• A) .0235 … do not reject
• B) .0235 … reject
• C) .047 … do not reject
• D) .047 … reject

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Definitions:

Utility Function

A representation in economics of how a consumer ranks different bundles of goods according to the level of satisfaction or utility they provide.

Auto Repairs

Services aimed at fixing or maintaining the functional aspects of vehicles, ensuring they are safe and operational.

Gasoline

A liquid fuel made from petroleum and used primarily to power internal combustion engines.

Cost Function

A mathematical representation that describes how costs incurred by a firm change with variations in the level of production activity.