Test Whether the Population Proportions Differ at the α =

question 54

Essay

Test whether the population proportions differ at the α = 0.05 level of significance by determining the null andalternative hypotheses, the test statistic, and the critical value. Assume that the samples are dependent and thatthey were obtained randomly. $\begin{array}{ll|cc} & & {\text { Treatment A }} \\ & & \text { Success } & \text { Failure } \\\hline& \text { Success } & 87 & 32 \\ \text { Treatment B } \\& \text { Failure } & 12 & 59\end{array}$

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Definitions:

Short Run

A period in economic analysis where at least one input is fixed and cannot change.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing to produce and sell at a given overall price level, during a certain time period.

Aggregate Demand

Total inclination for products and services within an economic system, priced at a determined aggregate price level over an appointed period.

Price Level

The general level of prices for goods and services in an economy at a specific point in time.