SCENARIO 10-11 The Dean of a College Is Interested in the Proportion

question 31

True/False

SCENARIO 10-11
The dean of a college is interested in the proportion of graduates from his college who have a job offer on graduation day.He is particularly interested in seeing if there is a difference in this proportion for accounting and economics majors.In a random sample of 100 of each type of major at graduation,he found that 65 accounting majors and 52 economics majors had job offers.If the accounting majors are designated as "Group 1" and the economics majors are designated as "Group 2," perform the appropriate hypothesis test using a level of significance of 0.05.
-Referring to Scenario 10-11,the same decision would be made with this test if the level of significance had been 0.01 rather than 0.05.

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Definitions:

Voice-Activated Software

Computer applications or systems that are controlled through vocal commands rather than traditional manual inputs.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.

Type II Error

A statistical mistake of failing to reject a false null hypothesis; also known as a false negative.

Expected Decision Error Costs

The anticipated costs associated with making incorrect decisions, often used in risk assessment and decision-making processes.