In a Simple Random Sample of Size 64 , There $H _ { 0 } : p = 0.36$

question 47

Multiple Choice

In a simple random sample of size 64 , there were 32 individuals in the category of interest. It is desired to test $H _ { 0 } : p = 0.36$ versus $H _ { 1 } : p < 0.36$ . Do you reject $H _ { 0 }$ $0.05$ level?

• A) Yes
• B) No

---

Definitions:

Marginal Benefit

The incremental advantage received by using one more unit of a good or service.

Monopolistic Competition

A market structure characterized by many firms offering differentiated products or services.

Long-Run Equilibrium

A state in which all firms in a market or industry are making normal profits, with no incentive for entry or exit, and all resources are optimally allocated.

Long-Run Equilibrium

A market condition where all inputs can be adjusted, firms are entering and exiting the market, and no economic profits are made, leading to a state of perfect competition.