Assume That You Plan to Use a Significance Level Of \alpha

question 21

Multiple Choice

Assume that you plan to use a significance level of $\alpha = 0.05$ test the claim that p $\mathrm { p } _ { 1 } = \mathrm { p } _ { 2 }$ , Use the given sample sizes and
numbers of successes to find the P-value for the hypothesis test.
- $$\begin{array} { l l } \mathrm { n } _ { 1 } = 50 & \mathrm { n } _ { 2 } = 75 \\\mathrm { x } _ { 1 } = 20 & \mathrm { x } _ { 2 } = 15\end{array}$$

• A) 0.0146
• B) 0.0001
• C) 0.0032
• D) 0.1201

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Definitions:

Short Run

The short run is a time period in economics during which at least one input is fixed, limiting the ability of the economy or firm to adjust its output levels.

Market Price

The price of a good or service as determined by supply and demand in the open market.

Soybeans

A type of legume native to East Asia, widely grown for its edible bean used in a variety of foods and products.

Short-Run Profit

Profits earned by a firm in a period where at least one input is fixed, reflecting immediate financial performance.