Instruction 15-2 The Dean of a College Is Interested in the Proportion

question 45

Short Answer

Instruction 15-2
The dean of a college is interested in the proportion of graduates from his college who have a job offer on graduation day. He is particularly interested in seeing if there is a difference in this proportion for accounting and economics majors. In a random sample of 100 of each type of major at graduation, he found that 65 accounting majors and 52 economics majors had job offers. If the accounting majors are designated as 'Group 1' and the economics majors are designated as 'Group 2', perform the appropriate hypothesis test using a level of significance of 0.05.
-Referring to Instruction 15-2,the p-value of the test is _______.

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Definitions:

Transaction Costs

Expenses incurred when buying or selling goods and services, which can include fees, taxes, and other costs.

Externality Problem

A situation where the actions of individuals or businesses result in benefits or costs to others that are not reflected in market prices.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often leading to market failures when not properly accounted for.

Sierra Club

An environmental organization that promotes the conservation of natural environments and influences public policy through advocacy and education.