Test the Hypothesis That $\mathrm { p } _ { 1 } > \mathrm { p } _ { 2 }$

question 29

Essay

Test the hypothesis that $\mathrm { p } _ { 1 } > \mathrm { p } _ { 2 }$ Use α=0.01 . The sample statistics listed below are from independent samples.
Sample statistics: $\mathrm { n } _ { 1 } = 100 , \mathrm { x } _ { 1 } = 38 , \text { and } \mathrm { n } _ { 2 } = 140 , \mathrm { x } _ { 2 } = 50$

---

Definitions:

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Hats

Articles of clothing worn on the head, often for fashion, protection against weather conditions, or as part of a uniform.

Quantity Effect

The effect on overall consumption when a change in price leads to a change in the quantity demanded.

Price Effect

The change in quantity demanded of a good or service resulting from a change in its price, indicating consumer sensitivity to price changes.