The probability of correctly rejecting a false null hypothesis is called the power of the decision-making process.

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This statement is true. The power of a test is the probability of correctly rejecting a false null hypothesis, which means it measures the ability of the decision-making process to detect a true difference or effect when it exists. A higher power indicates a better test, as it reduces the risk of making a type II error, which is failing to reject a false null hypothesis.

The Probability of Correctly Rejecting a False Null Hypothesis Is