A Company Is Willing to Renew Its Publishing Contract with a Popular

question 59

Multiple Choice

A company is willing to renew its publishing contract with a popular statistics book author only if he can prove that his book can sell to more than 22% of the entire statistics market.The publishing company contacts 5000 statistics professors at random and only 1050 professors were interested in the book.Should the company renew the contract? Should the company renew the contract? State the critical value required to perform an appropriate hypothesis test using α = 0.01.

• A)2.576
• B)3.09
• C)2.326
• D)1.645
• E)1.96

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Definitions:

Engaged

Being actively involved or committed to a particular activity, cause, or task.

Flow

The psychological state of being completely immersed and fully engaged in an activity, often leading to optimal performance and enjoyment.

Challenging

Describes something that is demanding and tests one's abilities, often in a way that is stimulating or rewarding.

Gratitude

A feeling of thankfulness and appreciation, often in response to receiving help or kindness from others.