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TABLE 12-8
The director of transportation of a large company is interested in the usage of the company's van pool program. She surveyed 129 of her employees on the usage of the program before and after a campaign to convince her employees to use the service and obtained the following:
She will use this information to perform test using a level of significance of 0.05.
-Referring to Table 12-8, the director now wants to know if the proportion of employees who use the service before the campaign and the proportion of employees who use the service after the campaign are the same. What is the p-value of the test statistic using a 5% level of significance?
Utility Increase
A rise in the level of satisfaction or benefit that a consumer derives from the consumption of goods or services.
Contract Curve
In economics, it represents the set of optimal distributions of goods or resources between parties that maximizes their utility in an exchange.
Relative Price
The price of a good or service in comparison to the price of other goods and services, reflecting its opportunity cost.
Marginal Utility
The additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.
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