For the Given Binomial Sample Size and Null-Hypothesized Value Of \mathrm

question 63

Multiple Choice

For the given binomial sample size and null-hypothesized value of $$\mathrm { P } 0 ,$$ determine whether the sample size is large
enough to use the normal approximation methodology to conduct a test of the null hypothesis $$\mathrm { H } _ { 0 } : \mathrm { p } " \mathrm { P } 0$$
-The business college computing center wants to determine the proportion of business students who have laptop computers. If the proportion exceeds $30 \%$ , then the lab will scale back a proposed enlargement of its facilities. Suppose 250 business students were randomly sampled and 75 have laptops. Find the rejection region for the corresponding test using $\alpha = .05$ .

• A) Reject \(H _ { 0 }\) if \(z = 1.645\).
• B) Reject \(H _ { 0 }\) if \(z > 1.96\) or \(z < - 1.96\).
• C) Reject \(H _ { 0 }\) if \(z < - 1.645\).
• D) Reject \(H _ { 0 }\) if \(z > 1.645\).

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Definitions:

Efficient

The optimal use of resources to achieve the desired output with minimal waste, or achieving a goal in the most cost-effective way.

MSB = MSC

A condition where the Marginal Social Benefit of consuming a good equals the Marginal Social Cost of producing it, representing an optimal allocation of resources.

Public Park

A plot of land, usually owned by a government, open to the public for recreation and relaxation, without an entrance fee.

Positive Externality

A benefit received by third parties not directly involved in an economic transaction, like the environmental benefits from a public park.