Physicians a Random Sample of 200 Physicians Shows That There

question 13

Essay

Physicians
A random sample of 200 physicians shows that there are 36 of them who make at least $400,000 a year. ​ ​
-{Physicians Narrative} Can we conclude at the 1% significance level that the true proportion of physicians in the population who make at least $400,000 a year is less than 0.24?

---

Definitions:

Billion Dollars

A unit of currency measurement equal to 1,000 million dollars, often used to denote significant economic, corporate, or governmental financial transactions.

Anti-trust Case

Legal proceedings aimed at stopping or regulating companies to prevent monopoly practices and promote competitive markets.

Interstate Commerce

Refers to the purchase, sale or exchange of commodities, transportation of people, money or goods, and navigation of waters between different states.

Supreme Court

The highest judicial body in a country or state, which has the ultimate authority to interpret laws, including the constitution, and to decide legal disputes.