Use the Following to Answer the Question(s) Below

question 1

Multiple Choice

Use the following to answer the question(s) below.
A newspaper poll asked respondents if they trusted "eco friendly" labels on cleaning products. Out of 1000 adults surveyed, 498 responded "yes." We would like to test if the proportion of respondents that trust these labels is at least 50%.
-The correct alternative hypothesis is

• A) p = 0.50.
• B) p ≤ 0.50.
• C) p ≥ 0.50.
• D) p > 0.50.
• E) p < 0.50.

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Definitions:

Autarky

An economic system where a country or entity is self-sufficient and does not engage in trade with external parties.

Comparative Advantage

The capability of an entity to generate a product or service with a lesser opportunity cost compared to others, resulting in enhanced trading efficiency.

Consumption Point

A specific point on a budget constraint that shows the combination of two goods that a consumer can afford.

Wheat

A staple grain that serves as a primary food source for a large portion of the world's population, used in a variety of products including bread, pasta, and cereal.