The HR Manager at Hernandez Inc

question 91

Multiple Choice

The HR manager at Hernandez Inc.reports that 40% of the company's job applicants have a bachelor's degree, 34% have an associate's degree and the remaining 26% have a high school diploma.You take a simple random sample of 200 applicants and count the number in the sample with bachelor's degrees, associate's degrees, and high school diplomas..You then conduct a chi-square test to establish whether this sample result is sufficient to reject a null hypothesis that the composition of Hernandez' job applicant population matches the HR manager's claim.The significance level is 1%. If the chi-square statistic for the sample result turns out to be 6.434, what should you conclude?

• A)Don't reject the HR manager's claim.
• B)The HR manager's claim can't be true.
• C)The sample provides strong evidence that the HR manager's claim is true.
• D)The sample provides strong evidence that the HR manager's claim is not true.

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Definitions:

Consumption

The use of goods and services by households. It includes spending on durable goods, nondurable goods, and services.

Loanable Funds

The market where savers supply funds for loans to borrowers, often illustrated by the supply and demand for loans.

Interest Rate

The chunk of a loan taken as interest by the borrower, typically outlined as an annual percentage of the loan's outstanding balance.

Surplus

A situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price, often leading to downward pressure on prices.