In General, Before an Academic Publisher Agrees to Publish a Book

question 34

Essay

In general, before an academic publisher agrees to publish a book, each manuscript is thoroughly reviewed by university lecturers. Suppose that Cengage Australia publishing company has recently received two manuscripts for statistics books. To help them decide which one to publish, both are sent to 50 professors of statistics who rate the manuscripts to judge which one is better. Suppose that 20 lecturers rate manuscript A as better and 30 rate manuscript B as better.
What is the p-value of this test, if we were testing that manuscript B is more highly rated than manuscript A?

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity, facilitating beneficial trade.

Autarky

An economic system where a region or country is self-sufficient and has no trade with the outside world.

Specialization

The situation in which each person specializes in the task that he or she is good at performing.

Absolute Advantage

The ability of an individual or economy to produce a good or service more efficiently than competitors using the same amount of resources.