A Survey of Entrepreneurs Focused on Their Job Characteristics, Work $\begin{array}{ccc}\text { U.S. } & \text { Europe } & \text { Japan } \\\hline 40 & 35 & 25 \\\hline\end{array}$

question 40

Multiple Choice

A survey of entrepreneurs focused on their job characteristics, work habits, social activities, leisure time, etc. One question put to each entrepreneur was, ʺWhat make of car (U.S., Europe, or Japan)
Do you drive?ʺ The responses (number in each category) for a sample of 100 entrepreneurs are
Summarized below. The goal of the analysis is to determine if the proportions of entrepreneurs
Who drive American, European, and Japanese cars differ. $\begin{array}{ccc}\text { U.S. } & \text { Europe } & \text { Japan } \\\hline 40 & 35 & 25 \\\hline\end{array}$

In order to determine whether the true proportions in each response category differ, a one-way chi-square analysis should be conducted. Use the chi-square distribution to determine the rejection region when testing at $\alpha = 0.025$ .

• A) Reject \(\mathrm { H } _ { 0 }\) if \(\chi ^ { 2 } > 9.34840\)
• B) Reject \(\mathrm { H } _ { 0 }\) if \(\chi ^ { 2 } > 9.21034\)
• C) Reject \(\mathrm { H } _ { 0 }\) if \(\chi ^ { 2 } > 7.37776\)
• D) Reject \(\mathrm { H } _ { 0 }\) if \(\chi ^ { 2 } > 11.1433\)

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, within a specified time period.

Quantity Supplied

The amount of a product or service that producers are willing and able to sell at a given price level during a specific time period.

Inelastic Demand

A market situation in which the demand for a product does not significantly change with its price increase or decrease.

Total Revenues

The entire amount of income generated by a company from its business activities, before any expenses are subtracted.