In Its Most Recent Annual Report, the US Chamber of Commerce

question 39

Multiple Choice

In its most recent annual report, the US Chamber of Commerce compared the economic climate for small businesses in three regions of the country by asking a randomly selected sample of 100 small business owners from each region to rate the business climate in their region.In each sample, a majority of business owners rated the business climate "strongly positive." You use an appropriate chi-square table format to test the null hypothesis that the proportion of all small businesses owners who rate the business climate "strongly positive" is the same in all three regions.The significance level of the test is 5%. If the p-value for the sample result turns out to be .067, what should you conclude?

• A)Don't reject the hypothesis that the proportion of all small businesses owners who would rate the business climate "strongly positive" is the same in all three regions
• B)Reject the hypothesis that the proportion of all small businesses owners who would rate the business climate "strongly positive" is the same in for all three regions
• C)The proportion of all small businesses owners who would rate the business climate "strongly positive" is the same in all three regions.
• D)The proportion of all small businesses owners who would rate the business climate "strongly positive" is not the same in all three regions.

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Definitions:

Note Payable

A written promise to pay a specified amount of money, typically with interest, by a certain date.

Decrease Assets

A reduction in the value or quantity of the assets owned by a company or individual.

Prepaid Insurance Account

An asset account on the balance sheet representing insurance premiums that have been paid in advance and are gradually expensed over the coverage period.

Premium

An amount paid in excess of the nominal or face value of something, often associated with insurance policies or bonds.