A Sample of Size 100 Selected from One Population Has

question 27

Multiple Choice

A sample of size 100 selected from one population has 53 successes, and a sample of size 150 selected from a second population has 95 successes. The test statistic for testing the equality of the population proportions is equal to:

• A) -11.1051.
• B) -17.1107.
• C) -0.0944.
• D) -1.0944.

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Definitions:

Profit-maximizing

The point at which a firm achieves the highest possible profit, where the marginal cost of production equals the marginal revenue from sales.

Total Revenue

The total receipts from sales of goods or services over a certain period of time before any expenses are subtracted.

Variable Input

An input in the production process that changes quantity with the level of output, such as labor or raw materials.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production, key in making decisions on resource allocation.