TABLE 10-11 A Corporation Randomly Selects 150 Salespeople and Finds That 66

question 78

Multiple Choice

TABLE 10-11
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self-improvement course would like such a course. The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course. The groups are assumed to be independent random samples. Let π₁ and π₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study, respectively.
-Referring to Table 10-11, what is/are the critical value(s) when testing whether the current population proportion is higher than before if α= 0.05?

• A) ± 1.645
• B) + 1.645
• C) ± 1.96
• D) + 1.96

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Definitions:

Net Profit Margin Ratio

A profitability metric that calculates the percentage of revenue remaining as profit after all expenses are deducted from total sales.

Unit Selling Price

The price at which a single unit of a product or service is sold to customers.

Operating Expenses

Expenses incurred from a company's operational activities, not including the cost of goods sold, typically including selling, general, and administrative expenses.

Gross Profit

The difference between revenue and the cost of goods sold, showing the basic profitability of a company’s core operations.