Use the Data Given Below to Answer the Following Question(s) $z=\frac{\hat{p}-\pi_{0}}{\pi\left(1-\pi_{0}\right) / n}$

question 12

Multiple Choice

Use the data given below to answer the following question(s) .
In a lower one-tailed hypothesis test, chosen level of significance = 0.10, sample size = 55, and t- test statistic = -1.76.
-Which of the following computes the test statistic for a one-sample test for proportions?

• A) \( z=\frac{\hat{p}-\pi_{0}}{\pi\left(1-\pi_{0}\right) / n} \)
• B) \( z=\frac{\hat{p}-\pi_{0}}{\pi / n} \)
• C) \( z=\frac{\hat{p}-\pi_{0}}{\sqrt{\pi\left(1-\pi_{0}\right) / n}} \)
• D) \( z=\frac{\hat{p}-\pi_{0}}{\sqrt{\pi\left(1-\pi_{0}\right)^{2} / n}} \)

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Definitions:

Regulated Monopoly

A market structure where a single firm dominates the market but is controlled or regulated by the government to protect consumers' interests and ensure fair pricing.

Monopolistic Competition

Market structure in which large numbers of buyers and sellers exchange heterogeneous products so each participant has some control over price.

Homogeneous Product

A product that is virtually indistinguishable from the same products offered by different suppliers in the market.

Control Over Price

The ability of a company or seller to dictate the price of a product or service in the market.