A Manufacturer Claims That Less Than 1% of All His

question 188

Multiple Choice

A manufacturer claims that less than 1% of all his products do not meet the minimum government standards. A survey of 500 products revealed ten did not meet the standard.

• A) If α = .01, the critical value is z = -2.33
• B) If α = .01, the critical value is z = 2.33
• C) If α = .01, the critical value is z = -1.96
• D) If α = .01, the critical value is z = 1.96
• E) If α = .01, the critical value is z = -2.58

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Definitions:

Consumption

The use of goods and services by households, or the amount of goods and services used in a particular time period, often analyzed in economic contexts.

Red Scare

Periods in U.S. history characterized by widespread fear of radical political and the perceived threat of communism, notably after World War I and during the Cold War.

Anti-Semitism

Prejudice, discrimination, or hostility directed against Jews as a religious, ethnic, or racial group.

Industrial Production

Refers to the process and output of manufacturing goods in large quantities, typically utilizing machinery and in factories, playing a critical role in economic development and the Industrial Revolution.