The Employees at the East Vancouver Office of a Multinational $\neq$

question 69

Multiple Choice

The employees at the East Vancouver office of a multinational company are demanding higher salaries than those offered at the company office located in Oshawa Ontario. Their justification for the pay difference is that the difference between the average price of single-family houses in East Vancouver and that in Oshawa is more than $60,000. Before making a decision, the company management wants to study the difference in the prices of single-family houses for sale at the two locations. The results of their search of recent house sales are as follows (in $1000, rounded to the nearest thousand) :

Assuming that the population distributions are approximately normal, can we conclude at the 0.05 significance level that the difference between the two population means is greater than $60,000?
What is the alternate hypothesis?

• A) µ₁= µ_2, or µ_d= 0
• B) µ₁\(\neq\) µ_2, or µ_d\(\neq\) 0
• C) µ₁ - µ₂\(\le\) 60
• D) µ₁- µ₂ > 60

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Definitions:

Individual Branding

A marketing strategy whereby different products are given different brand names, allowing each to be positioned and marketed distinctively.

Brand Names

names given to products or services by companies to distinguish them from similar offerings, often associated with a specific quality or image.

Market Segment

A market segment is a group of individuals or organizations sharing one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function.

Product Development

The complete process of bringing a new product or service to market, from the initial idea through design, creation, and finally, introduction to consumers.