TABLE 12-3 The Director of Transportation of a Large Company Is Interested

question 195

True/False

TABLE 12-3
The director of transportation of a large company is interested in the usage of her van pool. She considers her routes to be divided into local and non-local. She is particularly interested in learning if there is a difference in the proportion of males and females who use the local routes. She takes a sample of a day's riders and finds the following:

She will use this information to perform a chi-square hypothesis test using a level of significance of 0.05.
-Referring to Table 12-3, the decision made suggests that there is a difference between the proportion of males and females who ride local versus non-local routes.

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Definitions:

Opportunity Cost

The trade-off of not seizing the next most favorable opportunity when faced with a decision.

Economics Club

A group or organization often found in academic institutions, where members discuss economic theories, current events, and sometimes engage in related projects or competitions.

Accounting Club

An organization or group often found in academic settings that focuses on the study and discussion of accounting practices, career development, and networking for accounting students and professionals.

Marginal Analysis

An examination of the benefits and costs of an additional unit of production or activity to make better decisions.