ISDS Terms Study Guide Test.

ISDS Terms Study Guide Test. Which of the following would be an appropriate null hypothesis? - CORRECT ANSWER the mean of the population is equal to 55 the population proportion is not less than .65 Which of the following would be an appropriate alternative hypothesis? - CORRECT ANSWER the mean of the population is greater than 55 the population proportion is less than .65 A Type II error is committed when - CORRECT ANSWER you don't reject a null hypothesis that is false A Type I error is committed when - CORRECT ANSWER you reject a null hypothesis that is true The power of a test is measured by its capability of - CORRECT ANSWER rejecting a null hypothesis that is false If an economist wishes to determine whether there is evidence that mean family income in a community exceeds $50,000, A) either a one-tail or two-tail test could be used with equivalent results. B) a one-tail test should be utilized. C) a two-tail test should be utilized. D) None of the above. - CORRECT ANSWER a one-tail test should be utilized. If an economist wishes to determine whether there is evidence that mean family income in a community equals $50,000, A) either a one-tail or two-tail test could be used with equivalent results. B) a one-tail test should be utilized. C) a two-tail test should be utilized. D) None of the above. - CORRECT ANSWER a two-tail test should be utilized. If the p-value is less than α in a two-tail test, - CORRECT ANSWER the null hypothesis should be rejected. If a test of hypothesis has a Type I error probability (α) of 0.01, it means that A) if the null hypothesis is true, you don't reject it 1% of the time. B) if the null hypothesis is true, you reject it 1% of the time. C) if the null hypothesis is false, you don't reject it 1% of the time. D) if the null hypothesis is false, you reject it 1% of the time. - CORRECT ANSWER if the null hypothesis is true, you reject it 1% of the time.