TABLE 8-15 The President of a University Is Concerned That Illicit Drug

question 4

Essay

TABLE 8-15
The president of a university is concerned that illicit drug use on campus is higher than the 5% targeted level.A random sample of 250 students from a population of 2,000 revealed that 7 of them had used illicit drugs during the last 12 months.
-Referring to Table 8-15,what is the critical value for the 90% one-sided confidence interval for the proportion of students who had used illicit drugs during the last 12 months?

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Definitions:

Commercial Dealing

Activities involved in the purchase and sale of goods and services in the marketplace.

Industry

The economic activity concerned with the production of goods, services, and the extraction of raw materials.

Requirements Contract

An agreement in which one party agrees to purchase all of his or her requirements of a particular product from another party. See also output contract.

Output Contract

An agreement in which a seller agrees to sell “all the goods we manufacture” or “all the crops we produce” to a particular buyer. See also requirements contract.