Are the Following Statements and Valid Null and Alternative

question 64

Multiple Choice

Are the following statements and valid null and alternative hypotheses?

• A) No, there are no parameters contained in these statements.
• B) No, the alternative hypothesis cannot contain numeric values.
• C) Yes, these statements are two non-overlapping hypotheses and compare two parameters.
• D) Yes, these statements are two non-overlapping hypotheses and compare a parameter to a value.

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Definitions:

Commodity Money

Commodity Money is a type of currency in which the value comes from a commodity of which it is made, such as gold or silver coins.

Largely Self-Sufficient

Describes an entity or community that can fulfill nearly all of its needs without external assistance.

Before Specialization

Refers to the economic state or condition prior to the allocation of resources towards the production of specific goods or services in which they have a comparative advantage.

Exchange

The act of trading goods, services, currencies, or other instruments of value between parties.