A Product Testing Laboratory Selected a Sample of 20 Printers

question 11

Multiple Choice

A product testing laboratory selected a sample of 20 printers from 2 different manufacturers to determine if they could print more than 100,000 pages without breaking down. At , test the claim that the proportions lasting more than 100,000 pages are equal.

• A) There is not evidence to reject the claim that the proportions are equal because the test value 2.506 < 3.841
• B) There is evidence to reject the claim that the proportions are equal because the test value 3.841 > 1.003
• C) There is not evidence to reject the claim that the proportions are equal because the test value 2.506 < 9.488
• D) There is not evidence to reject the claim that the proportions are equal because the test value 9.488 > 1.003

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Definitions:

Price-inelastic

Describes a market situation where the quantity demanded of a product does not change significantly when its price changes.

Price-sensitive

Refers to the degree to which the demand for a product or service is affected by changes in its price.

Unitary-elastic

A demand or supply situation where the percentage change in quantity demanded or supplied is exactly equal to the percentage change in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.