TABLE 12-2 The Dean of a College Is Interested in the Proportion

question 112

Short Answer

TABLE 12-2
The dean of a college is interested in the proportion of graduates from his college who have a job offer on graduation day. He is particularly interested in seeing if there is a difference in this proportion for accounting and economics majors. In a random sample of 100 of each type of major at graduation, he found that 65 accounting majors and 52 economics majors had job offers. If the accounting majors are designated as "Group 1" and the economics majors are designated as "Group 2," perform the appropriate hypothesis test using a level of significance of 0.05.
-Referring to Table 12-2, the value of the test statistic is ________.

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Definitions:

Variable Cost

Costs that vary directly with the level of production or output, such as raw materials and direct labor expenses.

Total Cost

The complete cost of production that includes both variable and fixed expenses.

Marginal Cost

The financial outlay required to produce an additional single unit of a product or service.

Variable Cost

Costs that change in proportion to the level of goods or services that a business produces, such as materials and labor.