Instruction 10-10 The Dean of a College Is Interested in the Proportion

question 143

Multiple Choice

Instruction 10-10
The dean of a college is interested in the proportion of graduates from his college who have a job offer on graduation day.He is particularly interested in seeing if there is a difference in this proportion for accounting and economics majors.In a random sample of 100 of each type of major at graduation,he found that 65 accounting students and 52 economics students had job offers.If the accounting students are designated as "Group 1" and the economics students are designated as "Group 2",perform the appropriate hypothesis test using a level of significance of 0.05.
-Referring to Instruction 10-10,the hypotheses the dean should use are

• A)H₀: π₁ - π₂ ≤ 0 versus H₁: π₁ - π₂ > 0.
• B)H₀: π₁ - π₂ = 0 versus H₁: π₁ - π₂ ≠ 0.
• C)H₀: π₁ - π₂ ≠ 0 versus H₁: π₁ - π₂ = 0.
• D)H₀: π₁ - π₂ ≥ 0 versus H₁: π₁ - π₂ < 0.

Understand the concept of pH and its scale, including the role of hydrogen (H+) and hydroxide (OH-) ions in determining acidity or basicity.

Recognize and classify organic molecules such as carbohydrates, lipids, and proteins.

Identify different biological tests used to detect the presence of various biomolecules.

Describe the structure and function of lipids, including their role in cellular structure and energy provision.

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Definitions:

MC of Production

The additional cost incurred by producing one more unit of a good or service, often denoted as marginal cost.

Long-Run Industry

An economic concept where all inputs and operations are adjustable, allowing for new firms to enter or exit the market, affecting supply and price levels.

Profit-Maximization

Profit-maximization is the process by which a firm determines the price and output level that returns the greatest profit, focusing on key variables like sales and costs.

Economic Profit

The gap between the total income and the sum of explicit and implicit costs of a business.