TABLE 8-9 The Superintendent of a Unified School District of a Small

question 33

True/False

TABLE 8-9
The superintendent of a unified school district of a small town wants to make sure that no more than 5% of the students skip more than 10 days of school in a year. A random sample of 145 students from a population of 800 showed that 12 students skipped more than 10 days of school last year.
-Referring to Table 8-9, the superintendent can conclude with 95% level of confidence that no more than 5% of the students in the unified school district skipped more than 10 days of school last year.

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Perfectly Competitive

A market structure characterized by many buyers and sellers, homogeneous products, free entry and exit, and perfect information that leads to all firms receiving the same price for their product.

Kansas Corn Market

The market environment in which corn, as an agricultural product, is traded, bought, and sold within the state of Kansas.

Easy Entry

A market condition where new competitors can join the market with minimal barriers or obstacles.

Industry

A classification that refers to a group of companies that are related based on their primary business activities.