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Instruction 19-1
The director of transportation of a large company is interested in the usage of her van pool. She considers her routes to be divided into local and non-local. She is particularly interested in learning if there is a difference in the proportion of males and females who use the local routes. She takes a sample of a day's riders and finds the following:
She will use this information to perform a chi-square hypothesis test using a level of significance of 0.05.
-Referring to Instruction 19-1,the director now wants to know if the proportion of users who are female and the proportion of users who use the local routes are the same.Which test should she use?
Zero-Profit Equilibrium
A situation in competitive markets wherein, due to free entry and exit, firms only earn a normal profit, which is their lowest level of profit necessary to keep them in business.
Industry Expands
The process of a sector growing in size through increased production, possibly due to higher demand or technological advancements.
AVC
Average Variable Cost, which is the variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.
ATC
Average Total Costs, which is the sum of all production costs (fixed and variable) divided by the quantity of output produced, detailing the average cost per unit of output.
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