Given H0: μ ≥ 18 and H1: μ < 18,we

question 2

Multiple Choice

Given H0: μ ≥ 18 and H1: μ < 18,we would commit a Type I error if we

• A)conclude that μ ≥ 18 when the truth is that μ < 18.
• B)conclude that μ < 18 when the truth is that μ ≥ 18.
• C)fail to reject μ ≥ 18 when the truth is that μ < 18.

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Definitions:

Attempted Monopolization

An action by a firm that involves anticompetitive conduct, the intent to gain monopoly power, and a “dangerous probability” of success in achieving monopoly power.

Antitrust Action

A lawsuit or legal move to challenge practices that restrain trade or competition in the market.

Sherman Act

A United States antitrust law passed in 1890 that prohibits monopolistic practices and promotes competition.

Antitrust Law

Legislation intended to promote competition and prevent monopolies by regulating anti-competitive business practices.