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TABLE 12-5
Four surgical procedures currently are used to install pacemakers. If the patient does not need to return for follow-up surgery, the operation is called a "clear" operation. A heart center wants to compare the proportion of clear operations for the 4 procedures and collects the following numbers of patients from their own records:
They will use this information to test for a difference among the proportion of clear operations using a chi-square test with a level of significance of 0.05.
-Referring to Table 12-5, there is sufficient evidence to conclude that the proportions between procedure C and procedure D are different at a 0.05 level of significance.
Perfectly Competitive
A market structure characterized by a large number of small firms, a homogenous product, perfect information, and no barriers to entry or exit.
Marginal Cost
A rise in the comprehensive cost when producing an additional unit of a product or service.
Fixed Cost
A charge that stays the same, no matter how much is produced or sold in terms of goods or services.
Variable Costs
Expenses that vary directly with the level of production or volume of output.
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