A Major Company Would Like to Assess the Impact of Using

question 60

Essay

A major company would like to assess the impact of using a professional trainer to conduct a confidence-building workshop with its salespeople.A sample of 16 workers is obtained.Half (n = 8)attend the workshop and the other half (n = 8)serve as a control group.Two weeks later,each of the participants is given a questionnaire measuring the level of self-confidence.The data are as follows:
$$\begin{array} { l l } \frac { \text { Controls } } { } & \text { Workshop } \\\hline M = 17.5 & M = 22.7 \\S S = 100 & S S = 124\end{array}$$
Use the sample data to construct an 80% confidence interval for the mean difference in confidence between the control group and the workshop conditions.

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Definitions:

Elastic

Describes a situation in which the supply or demand for a good or service is highly responsive to changes in price.

Good Substitutes

Products or services that can be used in place of one another, where the increase in price of one leads to an increase in demand for the other.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in its price.

Total Expenditures

The sum of all spending or costs incurred by an individual, firm, or government.