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

question 98

Short Answer

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,construct a 99% confidence interval estimate of the difference in proportion between accounting majors and economic majors who have a job offer on graduation day.

---

Definitions:

Cost of Goods Available for Sale

The total cost incurred for the merchandise sold by a company during a specific period, including the cost of inventory at the beginning of the period and purchases made during the period.

Inventory at Year-End

The valuation of unsold goods and materials on hand at the close of a fiscal year, recorded as a current asset on the balance sheet.

Purchase of Inventory

The acquisition of goods and materials a company intends to sell in the normal course of business.

Safeguard Inventories

Actions or strategies implemented to protect and manage a company's inventory from loss, theft, or damage.