A Business Statistician Wishes to Determine Whether Current Unemployment Rates

question 7

Multiple Choice

A business statistician wishes to determine whether current unemployment rates differ between former communist countries and European/Asian nations that have not been under communist control. A sample of 10 countries each was randomly chosen from all eligible countries. The data are as follows: $\begin{array} { c c } \hline \text { Former Communist } & \text { Not Former Communist } \\\text { (\%) } & \text { (\%) } \\\hline 23 & 12 \\13 & 8 \\33 & 9 \\21 & 14 \\17 & 7 \\24 & 8 \\12 & 10 \\18 & 11 \\27 & 12 \\16 & 7 \\\hline\end{array}$
-The appropriate conclusion of this statistical analysis would be

• A)The mean unemployment rate (20.4%) in former communist countries is significantly greater (p < .001) than the mean unemployment rate (9.8%) in countries not formerly under communist control.
• B)The mean unemployment rate (9.8%) in former communist countries is significantly greater (p < .001) than the mean unemployment rate (20.4%) in countries not formerly under communist control.
• C)The mean unemployment rate (20.4%) in former communist countries is significantly greater (p < .05) than the mean unemployment rate (9.8%) in countries not formerly under communist control.
• D)The mean unemployment rate (20.4%) in former communist countries is not significantly greater (p > .05) than the mean unemployment rate (9.8%) in countries not formerly under communist control.

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Definitions:

Incubation

The process of nurturing startups or new ideas within a supportive environment to promote their development and success.

Organizational Settings

Environments or contexts within which organizations operate, including cultural, economic, legal, and technological conditions.

Increasing Creativity

The process of fostering imagination and new ideas in various activities, aiming to produce original and effective solutions or works.

Escalation of Commitment

The phenomenon where individuals or groups continue to invest time, money, or effort into a bad decision, even when it becomes clear it was a mistake.