Exhibit 9-6

question 106

Multiple Choice

Exhibit 9-6.The Institute of Education Sciences measures the high school dropout rate as the percentage of 16- through 24-year-olds who are not enrolled in school and have not earned a high school credential.In 2009,the high school dropout rate was 8.1%.A polling company recently took a survey of 1000 people between the ages of 16 and 24 and found 6.5% of them are high school dropouts.The polling company would like to determine whether the dropout rate has decreased. Refer to Exhibit 9-6.The value of the test statistic is ____________.

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Definitions:

Convex

In geometry and economics, convex refers to a shape or function that curves outward or has a bulging shape, often indicating a relationship where marginal effects increase over a range.

Concave

Describes a curve or surface that is curved inward, resembling the interior of a circle or sphere.

Budget Line

The budget line represents the combination of goods and services that a consumer can purchase with their given income, keeping in consideration the prices of those goods.

Money Income

Money income refers to the total amount of monetary earnings received by an individual or household, including wages, salaries, bonuses, and income from investments.