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Exhibit 11-2
Last school year, the student body of a local university consisted of 30% freshmen, 24% sophomores, 26% juniors, and 20% seniors. A sample of 300 students taken from this year's student body showed the following number of students in each classification.
We are interested in determining whether or not there has been a significant change in the classifications between the last school year and this school year.
-Refer to Exhibit 11-2. At 95% confidence, the null hypothesis
Trade Deficit
Occurs when a country's imports exceed its exports during a given time period, leading to an outflow of domestic currency to foreign markets.
Underwood Tariff
An early 20th-century legislative act that substantially reduced tariffs in the United States, aimed at lowering consumer costs and promoting free trade.
Republican Administrations
Refers to periods of governance in the United States when the executive branch is controlled by the Republican Party, typically characterized by certain fiscal, social, and foreign policies.
Trade Deficits
The economic condition that occurs when a country imports more goods and services than it exports, resulting in a negative balance of trade.
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