In a short essay, list and discuss the two types of errors that can occur whenever inferences are drawn about a population
What will be an ideal response?
a. Type I error occurs when the sample results lead to the rejection of the null hypothesis when it is in fact true. The probability of type I error is also called the level of significance. The type I error is controlled by establishing the tolerable level of risk of rejecting a true null hypothesis. The selection of a particular risk level should depend on the cost of making a type I error. The level of significance when expressed as a percent is equal to 100 percent minus the confidence level.
b. Type II error occurs when, based on the sample results, the null hypothesis is not rejected when it is in fact false. Unlike the probability of type I error, which is specified by the researcher, the magnitude of the probability of type II error depends on the actual value of the population parameter.
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Peter and Paul are business associates. The police enter the business with a search warrant because Peter is under investigation for a crime. When the police ask Paul to answer some questions, he agrees, but one of the questions, if answered, might make him culpable too. Paul must answer the question because he is not under investigation and therefore does not currently have the right against self-incrimination.
Answer the following statement true (T) or false (F)
Which internal control procedure is followed when storage areas are secured with limited access?
a. Segregation duties b. Safeguarding assets and records c. Independent verifications d. Proper authorizations
The Mahalanobis procedure is based on minimalizing a generalized measure of the distance between the two closest groups
Indicate whether the statement is true or false
Which of the following statements is true about the differences between training and development?
A. Employee participation in training is voluntary but not with development. B. Training is future-oriented, while development focuses more on present issues. C. Training focuses on preparing employees for current jobs, but development prepares them for other positions. D. Use of work experiences is greater in training than it is in development.