A type I error is
A) always the same as (1-type II) error.
B) the error you make when rejecting the null hypothesis when it is true.
C) the error you make when rejecting the alternative hypothesis when it is true.
D) always 5%.
Answer: B
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Daniel has $300 in a bank account. Some years ago he put $213.20 into this account, and it has earned 5 percent interest every year since then. How many years ago did Daniel open his account?
a. 4 years b. 5 years c. 6 years d. 7 years
One subject of study for macroeconomics is
A. inflation. B. the shape of an individual's demand curve. C. monopoly. D. perfect competition.
Traditional models see no role for the government in pushing individuals toward the preferred equilibrium.
Answer the following statement true (T) or false (F)
Advertising can enhance economic efficiency when it:
A. increases brand loyalty. B. raises entry barriers. C. increases consumer awareness of substitute products. D. boosts average total cost.