SCENARIO 10-9 The Following EXCEL Output Contains the Results of a Test

question 26

Multiple Choice

SCENARIO 10-9
The following EXCEL output contains the results of a test to determine whether the proportions of
satisfied customers at two resorts are the same or different.
10-32 Two-Sample Tests
-Referring to Scenario 10-9, allowing for 1% probability of committing a Type I error, what are
The decision and conclusion on testing whether there is any difference in the proportions of
Satisfied customers in the two resorts?

• A) Do not reject the null hypothesis; there is enough evidence to conclude that there is significant difference in the proportions of satisfied guests at the two resorts.
• B) Do not reject the null hypothesis; there is not enough evidence to conclude that there is significant difference in the proportions of satisfied guests at the two resorts.
• C) Reject the null hypothesis; there is enough evidence to conclude that there is significant difference in the proportions of satisfied guests at the two resorts.
• D) Reject the null hypothesis; there is not enough evidence to conclude that there is significant difference in the proportions of satisfied guests at the two resorts.

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Definitions:

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a specific price level, holding all other factors constant.

Quantity Supplied

The total amount of a product that producers are willing to sell at a given price within a specific time frame.

Export

The act of sending goods or services from one country to another country for sale or trade.

Comparative Advantage

The ability of a country or individual to produce a particular good or service at a lower opportunity cost than others.