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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 ×and × 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 the unbiased point estimate for the difference between the two population proportions?
Precommitments
Strategic decisions or investments made in advance to lock in certain behaviors, goals, or outcomes.
Time Inconsistency
A situation where a decision-maker's preferences change over time, often leading to a conflict between long-term goals and short-term gratification.
Package Sizes
The dimensions or amount of product contained within a package, affecting consumer choices and inventory management.
Framing Effects
The influence on decision making prompted by the way information is presented, rather than just the information itself.
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