The Numbers of Successes and the Sample Sizes Are Given $$\mathrm { x } _ { 1 } = 14 , \mathrm { n } _ { 1 } = 50 , \mathrm { x } _ { 2 } = 3 , \mathrm { n } _ { 2 } = 20$$

question 13

Multiple Choice

The numbers of successes and the sample sizes are given for independent simple random samples from two populations.Decide whether using the two-proportions z-procedures is appropriate.
- $$\mathrm { x } _ { 1 } = 14 , \mathrm { n } _ { 1 } = 50 , \mathrm { x } _ { 2 } = 3 , \mathrm { n } _ { 2 } = 20$$

• A)Appropriate
• B) Not appropriate

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Definitions:

Market

Any structure that allows buyers and sellers to exchange any type of goods, services, and information.

Perfectly Inelastic

A situation in demand where the quantity demanded does not change regardless of changes in price.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.

Binding Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, which is set below the market equilibrium price, leading to shortages.