A Hypothesis Test Is Performed to Test the Claim That $\beta$

question 19

Multiple Choice

A hypothesis test is performed to test the claim that a population proportion is greater than 0.7 . Find the probability of a type II error $\beta$ given that the true value of the population proportion is 0.72 . The sample size is 50 and the significance level is 0.05 .

• A) 0.4129
• B) 0.5754
• C) 0.7123
• D) 0.9706

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Definitions:

Variable Costing

An accounting method that only considers variable costs in determining the cost of goods sold and in calculating contribution margin.

Unit Product Cost

The total expense incurred to produce, store, and sell one unit of a product, including direct materials, direct labor, and manufacturing overhead.

Variable Costing

An accounting method in which costs that vary directly with the level of production output are charged to product units.

Net Operating Income

The total profit of a company after operating expenses but before subtracting interest and taxes.