SCENARIO 9-2 a Student Claims That He Can Correctly Identify Whether a Whether

question 109

Multiple Choice

SCENARIO 9-2
A student claims that he can correctly identify whether a person is a business major or an agriculture major by the way the person dresses.Suppose in actuality that if someone is a business major,he can correctly identify that person as a business major 87% of the time.When a person is an agriculture major,the student will incorrectly identify that person as a business major 16% of the time.Presented with one person and asked to identify the major of this person (who is either a business or an agriculture major) ,he considers this to be a hypothesis test with the null hypothesis being that the person is a business major and the alternative that the person is an agriculture major.
-Referring to Scenario 9-2,what is the "actual level of significance" of the test?

• A)0.13
• B)0.16
• C)0.84
• D)0.87

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Definitions:

Payments

Amounts of money that are paid or due to be paid by one party to another for goods provided, services rendered, or debt obligations.

Compounded Quarterly

The process of calculating interest on a principal amount at a specified interest rate, with the interest being added to the principal at the end of every three months.

End-Of-Quarter Payments

Payments that are made at the end of each quarter, typically in a financial or leasing agreement.

Monthly Payments

Regular payments made once a month, commonly in the context of loans, rent, or other agreements.