TABLE 10-11 The Dean of a College Is Interested in the Proportion

question 156

Short Answer

TABLE 10-11
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 10-11, construct a 90% confidence interval estimate of the difference in proportion between accounting majors and economic majors who have a job offer on graduation day.

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Definitions:

Budget Line

All the consumption bundles available to a consumer who spends all of his or her income.

Price Of Potatoes

The cost at which potatoes are sold in the market, which can vary based on factors such as quality, supply, and demand.

Horizontal Axis

In a graph, the x-axis along which numerical values are plotted, typically representing a variable like time or quantity.

Budget Line

A graphical representation of all the possible combinations of two goods that can be purchased with a given income and prices.