Unlike Enterprise Funds, It Is Frequently Desirable for Internal Service

question 8

True/False

Unlike enterprise funds, it is frequently desirable for internal service funds to operate at a profit.

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Definitions:

Type I Error

The statistical mistake of rejecting a true null hypothesis, also known as a "false positive."

Type II Error

The error that occurs when one fails to reject a false null hypothesis, also known as a false negative.

Power

The probability that a statistical test will correctly reject a false null hypothesis, or the test's sensitivity to detecting an effect.

Statistical Test

A procedure used to determine whether the observed data significantly deviates from a hypothesis.