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

question 155

Short Answer

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,construct a 99% confidence interval estimate of the difference in proportion of workers who would like to attend a self-improvement course in the recent study and the past study.

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Definitions:

Facilitates Trade

Actions or policies designed to make trade between countries or parties easier, typically through reducing barriers such as tariffs and quotas.

Barter

The direct exchange of one product for another without using money.

Medium Of Exchange

Anything that is widely accepted as a means for the payment of goods and services and repayment of debts.

Opportunity Cost

Represents the value of the best alternative that must be given up in order to pursue a certain action or decision.