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:

Structured Program

A framework designed for developing software that consists of clearly defined steps or modules, making code easier to write, understand, and maintain.

Illegal Attempt

An effort to commit a crime that, despite not reaching completion, is punishable under legal statutes.

Airfares

The cost of a flight ticket for travel by airplane.

Monopolize

To dominate or control entirely a market, industry, or resource, often to the exclusion of other potential competitors or players.