Find the Value of the Test Statistic Z Using Z $z = \frac { \hat { p } - p } { \sqrt { \frac { p q } { n } } }$

question 56

Multiple Choice

Find the value of the test statistic z using z $z = \frac { \hat { p } - p } { \sqrt { \frac { p q } { n } } }$
-A claim is made that the proportion of children who play sports is less than 0.5, and the sample statistics include n = 1320 subjects with 30% saying that they play a sport.

• A) 14.53
• B) 29.66
• C) -29.66
• D) -14.53

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Definitions:

Order Quantity

The number of units ordered at once from a supplier, balancing between holding costs and ordering costs to achieve optimal inventory levels.

Inventory Policy

Guidelines or rules set by a business to manage and control levels of inventory and order timings.

Service Level

A measure of the performance of a system's ability to serve customers, typically involving availability and responsiveness.

Safety Stock

Inventory buffer maintained to guard against supply chain variability and ensure product availability.