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

question 141

Short Answer

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 10-12, the hypotheses the dean should use are: a) $H _ { 0 } : \pi _ { 1 } - \pi _ { 2 } = 0$ versus $H _ { 1 } : \pi _ { 1 } - \pi _ { 2 } \neq 0$
b) $H _ { 0 } : \pi _ { 1 } - \pi _ { 2 } \neq 0$ versus $H _ { 1 } : \pi _ { 1 } - \pi _ { 2 } = 0$
c) $H _ { 0 } : \pi _ { 1 } - \pi _ { 2 } \leq 0$ versus $H _ { 1 } : \pi _ { 1 } - \pi _ { 2 } > 0$
d) $H _ { 0 } : \pi _ { 1 } - \pi _ { 2 } \geq 0$ versus $H _ { 1 } : \pi _ { 1 } - \pi _ { 2 } < 0$

Understand how quick response can affect inventory levels, profitability, and overstock quantity in supply chain management.

Identify the factors influencing the value of postponement and how it is affected by demand correlation and uncertainty.

Analyze the implications of multiple ordering cycles per season on inventory management and supply chain efficiency.

Understand the costs associated with postponement and its impact on production and profitability.

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Definitions:

Balance of Trade

The difference in value between a country's imports and exports over a certain period, reflecting the country's external trading position.

Goods Surplus

A situation in which the quantity of goods supplied exceeds the quantity demanded at a given price, often leading to price reductions.

Goods Exports

The process of exporting goods that are made within a country to different countries for the purposes of selling or trading.