A Survey of the Wine Market Has Shown That the Preferred

question 5

Multiple Choice

A survey of the wine market has shown that the preferred wine for 17% of those surveyed is merlot. A merlot wine producer believes the figure is higher. A random sample of 550 adults was asked which wine they preferred. Suppose 115 replied that merlot was their wine preference.
-The appropriate test statistic to test the hypotheses is _____.

• A)2.25
• B)2.44
• C)1.11
• D)-2.25
• E)-2.44

---

Definitions:

Self-Determination

Refers to the process by which individuals control their own life, making choices and decisions based on their own preferences and interests without undue influence from others.

Option Rights

Entitlements that grant the holder the right, but not the obligation, to buy or sell a particular asset at a predetermined price within a specified timeframe.

Rights

Rights refer to the moral or legal entitlements to have or do something, recognized in society as fundamental to human welfare or justice.

Ethical

Pertaining to or dealing with morals, principles of morality and judgments of right and wrong behavior.