Many Franchisers Favor Owners Who Operate Multiple Stores by Providing

question 1

Multiple Choice

Many franchisers favor owners who operate multiple stores by providing them with preferential treatment. Suppose the Small Business Administration would like to perform a hypothesis test to investigate if 80% of franchisees own only one location using α = 0.05. A random sample of 120 franchisees found that 85 owned only one store. The critical value for this hypothesis test would be ------.

• A)1.96
• B)2.33
• C)1.28
• D)1.645

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Definitions:

Studying Economics

The academic examination of how societies use resources to produce goods and provide services, including the analysis of production, consumption, and distribution.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen, essentially what is forfeited when a particular course of action is selected over others.

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The act of enrolling in and going to a collegiate institution for higher education, often pursued to gain skills, knowledge, and qualifications for future employment.

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The total cost of attending a college or university for one academic year, including tuition, fees, room, board, books, and other related expenses.