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Instruction 15-7
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 15-7,the null hypothesis will be rejected.
GDP Price Index
An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.
Fixed-Weight Price Index
A method of calculating inflation or deflation that uses predetermined weights for different categories of goods and services, regardless of their current market importance.
Chain-Weighted System
An inflation measure that adjusts the weights from year to year in calculating a price index, thereby reducing the bias caused by a fixed-price weighting system.
Nominal Gross Domestic Product (GDP)
The market value of all goods and services produced within a country in a given period, measured without adjusting for inflation.
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