TABLE 10-10 A Corporation Randomly Selects 150 Salespeople and Finds That 66

question 134

Multiple Choice

TABLE 10-10
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self-improvement course would like such a course. The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course. The groups are assumed to be independent random samples. Let π₁ and π₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study, respectively.
-Referring to Table 10-10, what is/are the critical value(s) when testing whether the current population proportion is higher than before if α = 0.05?

• A) ±1.645
• B) + 1.645
• C) ±1.96
• D) + 1.96

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Definitions:

Equilibrium Wage

The pay rate where the amount of labor available matches the amount of work needed.

Production Workers

Individuals directly involved in the manufacturing or creation of a product, working on the production line or within the production area.

Labor Demand

The sum of employees that businesses are ready and capable of employing at a specific pay rate during a given timeframe.

Marginal Product

The additional output that results from using one more unit of a particular input, holding all other inputs constant.