You Complete a Hypothesis Test Using  =

question 79

Multiple Choice

You complete a hypothesis test using  = .05,and based on the evidence from the sample,your decision is to reject the null hypothesis.Which of the following is true?

• A)You have made a Type I error.
• B)You have made a Type II error.
• C)You might have made a Type I error,but the probability is less than 5%.
• D)You have made the correct decision.

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Definitions:

Collection Float

The time period between when a payment is made by a customer and when the funds become available to the recipient.

Cheques

Financial instruments that instruct a bank to pay a specific amount of money from a person's account to another individual or entity.

Processed

Refers to items or data that have been altered, refined, analyzed, or prepared through a series of actions for a specific use or purpose.

Disbursement Float

The time lag between when a check is issued and when the funds are actually withdrawn from the issuer’s account.