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 $H _ { 1 } : \pi _ { 1 } - \pi _ { 2 } < 0$

Grasp the concept of hedging with futures and its applications in various industries.

Understand the concept of basis in futures contracts and basis risk.

Know the entities responsible for guaranteeing futures contracts and their fulfillment.

Identify factors not specified in a futures contract.

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Definitions:

Real Culture

The norms, values, and patterns of behavior that actually exist within a society (which may or may not correspond to the society’s ideals).

Symbolic Culture

Consists of the non-material aspects of culture including beliefs, language, values, and norms that are conveyed through symbols.

Hegemony

The dominance of one group over others, often seen in cultural, economic, or political contexts.

High Culture

Forms of cultural expression that are often associated with the elite or educated classes, including classical music, fine arts, and literature.