SCENARIO 10-10
a Corporation Randomly Selects 150 Salespeople and Finds $\pi$

question 58

Multiple Choice

SCENARIO 10-10
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self- improvement course would like such a course.The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course.The groups are assumed to be independent random samples.Let $\pi$ ₁ and $\pi$ ₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study,respectively.
-Referring to Scenario 10-10,what is the value of the test statistic to use in evaluating the alternative hypothesis that there is a difference in the two population proportions?

• A)4.335
• B)1.96
• C)1.093
• D)0

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Definitions:

Supply Curve

A visual chart that illustrates the connection between a product's price and the amount of the product that suppliers are prepared to offer.

External Benefits

Positive effects experienced by third parties or the society at large due to an economic transaction they were not directly involved in.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product.

Subsidizing Consumers

Directing government funds to reduce the price paid by consumers for goods or services, aiming to encourage consumption or support specific sectors.