Ophelia McPhee, VP of Consumer Credit, Confederation First Bank (CFB) $\alpha$

question 34

Multiple Choice

Ophelia McPhee, VP of Consumer Credit, Confederation First Bank (CFB) , monitors the default rate on personal loans among CFB members.One of her standards is "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans.Last Friday's sample contained 30 defaulted loans.Using $\alpha$ = 0.01, the appropriate decision is ___.

• A)reject the null hypothesis p > 0.05
• B)do not reject the null hypothesis p = 0.05
• C)reject the null hypothesis \(\mu\) > 30
• D)do not reject the null hypothesis \(\mu\)\(\le\)30
• E)do nothing

Analyze the effect of market conditions on firm survival and industry attractiveness.

Compare and contrast the effects of technology on competitive landscapes and market structure.

Understand the principles and conditions of pure competition in economics.

Explain the concept of allocative efficiency and how it is achieved in a purely competitive market.

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