Write the Word or Phrase That Best Completes Each Statement $\alpha = 0.05$

question 13

Short Answer

Write the word or phrase that best completes each statement or answers the question.
-A college dean believes that the median hours spent studying by full time students is at least 14 hours per week. In a random sample of 100 students, 62 studied more than 14 hours, 10 studied exactly 14 hours and the rest studied less than 14 hours. Test the researcher's hypothesis. Use $\alpha = 0.05$ .

---

Definitions:

Processing Further

The decision-making process regarding the continuation of product development or production beyond designated stages, considering additional costs and benefits.

Contribution Margin

The sum of money left over after variable costs are subtracted, which is utilized to pay for fixed costs and to produce a profit.

Production Capacity

The maximum output that a production facility can create over a specified period under normal operating conditions.

Sales Mix

The combination of different products or services that a company sells, characterized by varying profit margins and sales volumes.