Instruction 10-12 A Corporation Randomly Selects 150 Salespeople and Finds That 66

question 42

Multiple Choice

Instruction 10-12
A corporation randomly selects 150 salespeople and finds that 66% who have never taken a self-improvement course would like such a course. The firm did a similar study 10 years ago in which 60% of a random sample of 160 salespeople wanted a self-improvement course. The groups are assumed to be independent random samples. Let π₁ and π₂ represent the true proportion of workers who would like to attend a self-improvement course in the recent study and the past study, respectively.
-Referring to Instruction 10-12,what is the value of the test statistic to use in evaluating the alternative hypothesis that there is a difference in the two population proportions?

• A) 0
• B) 1.96
• C) 1.093
• D) 4.335

Explain the function of money as a medium of exchange.

Identify the flow of revenues and expenditures in the market system through the circular flow diagram.

Acknowledge the concept of costs and how they are determined in the market system.

Understand the guiding principles of the market system, including the roles of price, specialization, and competition.

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Definitions:

Insurance

A contractual arrangement where an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Approach and Presentation

The initial stage in the sales process where a salesperson introduces themselves and their product or service to a potential customer.

Trial Close

A trial close is a sales technique where the salesperson asks a potential buyer a question that assumes the sale has been made to gauge their readiness to complete the purchase.