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

question 88

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,the company tests to determine at the 0.05 level whether the population proportion has changed from the previous study.Which of the following is most correct?

• A) Reject the null hypothesis and conclude that the proportion of employees who are interested in a self-improvement course has changed over the intervening 10 years.
• B) Reject the null hypothesis and conclude that the proportion of employees who are interested in a self-improvement course has increased over the intervening 10 years.
• C) Do not reject the null hypothesis and conclude that the proportion of employees who are interested in a self-improvement course has increased over the intervening 10 years.
• D) Do not reject the null hypothesis and conclude that the proportion of employees who are interested in a self-improvement course has not changed over the intervening 10 years.

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Definitions:

Money Supply Growth Rate

The rate at which the amount of money available in an economy increases over a specific period.

Short-run Economy

The period in which the quantities of at least one input, such as capital, is fixed and firms adjust only labor inputs to change output levels.

Money Supply Growth Rate

The speed at which available monetary resources in an economy grow over a determined time frame.

Short-run Phillips Curve

A graphical representation indicating an inverse relationship between the rate of inflation and the rate of unemployment in the short term.