THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 47

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The faculty advisor for the finance society at a local business school is interested in determining the proportion of finance students going on a field trip.The advisor samples some students from each class and computes the sample proportion for each class.

-Estimate the proportion of all students going on the field trip.

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Definitions:

Importing

The act of bringing goods or services into a country from abroad for sale.

Exporting

Is the process of making a product in the firm’s domestic marketplace and then selling it in another country. Exporting can involve both goods and services.

International Business Strategy

A plan of action that companies adopt to enter and compete in the global marketplace.

Trade Controls

Regulations and policies implemented by governments to oversee the import and export of goods and services, often for reasons of national security, economic protection, or foreign policy.