Consider the Following to Answer the Question(s) Below

question 13

Multiple Choice

Consider the following to answer the question(s) below:
After completing sales training for a large company, it is expected that a salesperson will generate a sale on more than 15 percent of the calls he or she makes. To make sure that the sales training process is working, a random sample of 400 sales calls made by sales representatives who have completed the training have been selected and the null hypothesis is to be tested at 0.05 alpha level. Suppose that a sale is made on 76 of the calls.
-The correct value of the test statistic is

• A) 2.24.
• B) 1.96.
• C) -2.24.
• D) 3.34.
• E) -1.645.

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Definitions:

Short Run

A period in economics during which at least one factor of production is considered fixed, limiting the firm's ability to adjust to changes in market demand.

Profits

The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes needed to sustain the activity.

Lawn Mowing

The action or process of cutting the grass in a lawn to maintain its appearance and health.

Shut Down

A short-term decision by a firm to cease production due to market conditions, typically because the market price is below the minimum of average variable costs.