Question

which of the following groups has terms that can be used interchangeably with the others?
choose the correct answer below
○ critical value, percentage, and proportion
○ critical value, probability, and proportion
○ critical value, percentage, and probability
○ percentage, probability, and proportion

Explanation:

• Critical Value: It is a value that is used to determine whether to reject or fail to reject a null hypothesis in hypothesis testing. It is not the same as percentage, probability, or proportion in essence.
• Percentage: It represents a proportion out of 100. For example, if 20 out of 100 students like a subject, the percentage is \(20\%\).
• Probability: It measures the likelihood of an event occurring. It can be expressed as a proportion (e.g., the probability of getting heads in a fair coin - toss is \(0.5\) or \(50\%\)).
• Proportion: It is a part of a whole. For example, if there are 5 red balls out of 20 balls in total, the proportion of red balls is \(\frac{5}{20}=0.25\). Percentage is a way of expressing proportion (multiplying proportion by 100). Probability can also be thought of as a proportion (the proportion of favorable outcomes to the total number of possible outcomes in a sample space).

Answer:

Percentage, Probability, and Proportion