The Next Questions Are Based on the Following Information

question 125

Multiple Choice

The Next Questions Are Based On The Following Information:
The dean of a business college in the Midwest claims that he can correctly identify whether a student is a finance major or a music industry management major by the way the student dresses.Suppose in actuality that he can correctly identify finance majors 84% of the time,while 16% of the time he mistakenly identifies a music industry management major as a finance major.Presented with one student and asked to identify the major of this student (who is either a finance or music industry management major) ,the dean considers this to be a hypothesis test with the null hypothesis being that the student is a finance major and the alternative that the student is a music industry management major.
-An assembly line will be shut down for maintenance if the defect rate exceeds 2.3%.Suppose you adopt a 5% significance level and take a random sample of 200 items from the assembly line and compute the proportion of defective items.For what values of the sample proportion will the assembly line be shut down?

• A)0.034
• B)0.038
• C)0.036
• D)0.040

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Definitions:

Women Owning Business

Refers to enterprises that are majority-owned by women, showcasing gender diversity in entrepreneurship.

Hispanic-Owned Businesses

Enterprises owned and operated by individuals of Hispanic heritage, contributing to the economic diversity and development.

Annual Revenue

The total amount of income generated by a company from its activities over a year before any costs or expenses are deducted.

Crediting Purposes

The act of acknowledging someone's contribution or work, often for the purpose of assigning merit or recognition.