The Power of the Test Is

question 15

Multiple Choice

The power of the test is

• A)dependent on whether you calculate a t or a t2 statistic.
• B)one minus the probability of committing a type I error.
• C)a subjective view taken by the econometrician dependent on the situation.
• D)one minus the probability of committing a type II error.

---

Definitions:

Gini Ratio

A tool to evaluate income discrepancies within a group, spanning from 0, which means everyone earns the same, to 1, where one person has all the income.

Slovak Republic

A landlocked country in Central Europe, known as Slovakia, with a parliamentary democratic republic government system.

China

A country in East Asia, the world's most populous nation, known for its significant economic growth, manufacturing capacity, and ancient civilization.

Personal Distribution

The way in which income is distributed among individuals in an economy.