Instruction 15-5 A Corporation Randomly Selects 150 Salespeople and Finds That 66

question 29

Multiple Choice

Instruction 15-5
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 15-5,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)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.
• B)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.
• C)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:

Circular-Flow Diagram

A visualization of the economy that shows how dollars flow through markets among households and firms, highlighting the interactions between product and resource markets.

Factor Market

A factor market is the marketplace where productive resources like labor, capital, and natural resources are bought and sold.

Product Market

A marketplace where finished goods and services are bought and sold.

Product Market

The marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector.