SCENARIO 10-10
a Corporation Randomly Selects 150 Salespeople and Finds $\pi$

question 22

Multiple Choice

SCENARIO 10-10
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self- improvement course would like such a course.The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course.The groups are assumed to be independent random samples.Let $\pi$ ₁ and $\pi$ ₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study,respectively.
-Referring to Scenario 10-10,what is the point estimate for the difference between the two population proportions?

• A)0.06
• B)0.10
• C)0.15
• D)0.22

Analyze statistical data to determine relationships between different variables.

Interpret data tables to calculate specific probabilities.

Evaluate the impact of external conditions (such as weather or defective components) on probability outcomes.

Understand how statistical evidence can indicate dependency between variables.

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Definitions:

Flexible Budget

An adaptable budget that shifts in response to changes in the amount of activity or volume.

Net Operating Income

A financial metric that calculates a company’s income after operating expenses are subtracted but before interest and taxes are deducted.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels of the business, allowing for more accurate financial planning.

Total Expenses

The sum of all costs and expenditures that a company incurs in a specific period, including operating and non-operating expenses.