A Poll of 400 People from Village 1 Showed 250

question 107

Multiple Choice

A poll of 400 people from village 1 showed 250 preferred chocolate raspberry coffee to the regular
Blend while 170 out of 350 in village 2 preferred the same flavor. You wish to test the hypothesis
That there is no difference in preferences in the two villages. If you were to use Excel's MegaStat to
Assist in your solution to this problem, which test would you use?

• A) Mean vs. Hypothesized value.
• B) Compare two independent groups.
• C) Paired observations.
• D) Proportion vs. Hypothesized value.
• E) Compare two independent proportions. M. Chi-square variance test.

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Definitions:

Nonlabor Resources

Assets or inputs in production that are not related to direct human labor, such as machinery, raw materials, and land.

Total Product

The total quantity of output produced by a firm or economy, encompassing all goods and services.

Nonlabor Resources

Inputs in production that do not involve human labor, such as capital, land, and natural resources.

Marginal Product

The additional output produced as a result of adding one more unit of a specific input, holding other inputs constant.