The Business College Computing Center Wants to Determine the Proportion

question 46

Multiple Choice

The business college computing center wants to determine the proportion of business students who have laptop computers. If the proportion differs from 25%, then the lab will modify a proposed enlargement of its facilities. Suppose a hypothesis test is conducted and the test statistic is 2.4. Find the p-value for a two-tailed test of hypothesis.

• A) .0164
• B) .4918
• C) .4836
• D) .0082

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Definitions:

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance, necessary for running a business.

Break-Even Point

The juncture where the overall expenses match the total income, resulting in neither a profit nor a loss.

Variable Costs

Costs that vary directly with the volume of production or service delivery, such as materials and labor.

Fixed Costs

Expenses that do not change in total irrespective of the volume of goods or services produced by a company.