A Report on the U $28 \%$ Of Americans Have Experienced Difficulty in Making Mortgage Payments

question 17

Multiple Choice

A report on the U.S. economy indicates that $28 \%$ of Americans have experienced difficulty in making mortgage payments. A news organization randomly sampled 400 Americans from 10 cities named the "fastest dying cities in the U.S." (Forbes Magazine, August 2008) and found that 136 reported such difficulty. Does this indicate that the problem is more severe among these cities? The correct value of the test statistic for testing this claim is

• A) \(z = 1.28\)
• B) \(z = - 1.28\)
• C) \(z = 1.96\)
• D) \(z = - 2.67\)
• E) \(z = 2.67\)

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Definitions:

Total-Product Schedule

A table showing the output or total product resulting from various quantities of inputs or resources, used in production theory.

Marginal Revenue Product

The increase in revenue resulting from the utilization of one extra unit of a factor of production.

Resource

An economic or productive factor required to accomplish an activity or as means to undertake an enterprise and achieve desired outcome.

Marginal Revenue Product

The extra income produced by using an additional unit of a production input, like labor or capital.