A Local Politician Was Interested in Determining Whether Income Level

question 64

Multiple Choice

A local politician was interested in determining whether income level affects opinion regarding the government's bailout bill for easing the 2008 financial crisis on Wall Street.
He surveyed a sample of his constituents and performed a Chi-square test. The resulting
P-value was 0.024. At the 0.01 level of significance, he should conclude that

• A) Income level affects opinion.
• B) There is a relationship between income level and opinion.
• C) Opinion and income level are independent.
• D) Reject the null hypothesis.
• E) Both B and D.

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Definitions:

Stockholders

Individuals or entities that own shares in a corporation, giving them partial ownership and possibly the right to vote on corporate matters.

Profit Responsibility

An organization's focus or obligation to achieve financial gain for its stakeholders or owners.

Seller-oriented Outcomes

Outcomes focused on benefiting the seller, such as increased sales or market share.

Customer Focus

A business strategy that emphasizes the importance of meeting the needs and exceeding the expectations of customers.