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Instruction 15-9
The director of admissions at a local university is interested in investigating if admissions status (admitted,waiting list,denied admission)is independent of the type of community in which an applicant resides.He takes a sample of recent admissions decisions and forms the following table:
He will use this table to run a chi-square test of independence with a level of significance of 0.01.
-Referring to Instruction 15-9,the alternative hypothesis claims that "there is some connection between admission status at the university and the type of community in which an applicant resides".
Marginal Cost
The cost increase that comes with producing an additional unit of a product or service.
Marginal Revenue
The heightened income realized from the sale of one more unit of a good or service.
Marginal Cost
The price involved in creating one more unit of a specific good or service.
Marginal Revenue
The additional income gained from selling one more unit of a good or service; it’s a critical concept for determining the optimal level of output for a firm.
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