A CEO is trying to decide whether or not to fire the HR director. The default decision is for the HR director to keep the job, but the CEO will fire the HR director if there is statistically significant evidence that less than 75% of the new employees at the company stay for more than a year. A sample of 300 new employees showed that 72% of the new employees in the sample stayed for more than a year. For each number in the problem, give the appropriate mathematical symbol associated with that number: 75% = 0.75 = What test statistic do you use? Hint: Give just one letter for your answer.
A CEO is trying to decide whether or not to fire the HR director. The default decision is for the HR director to keep the job, but the CEO will fire the HR director if there is statistically significant evidence that less than 75% of the new employees at the company stay for more than a year. A sample of 300 new employees showed that 72% of the new employees in the sample stayed for more than a year. For each number in the problem, give the appropriate mathematical symbol associated with that number: 75% = 0.75 = What test statistic do you use? Hint: Give just one letter for your answer.
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.15P
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Transcribed Image Text:A CEO is trying to decide whether or not to fire the HR director. The default decision is for
the HR director to keep the job, but the CEO will fire the HR director if there is statistically
significant evidence that less than 75% of the new employees at the company stay for more
than a year. A sample of 300 new employees showed that 72% of the new employees in the
sample stayed for more than a year.
For each number in the problem, give the appropriate mathematical symbol associated with
that number:
75% = 0.75 =
Transcribed Image Text:What test statistic do you use?
Hint: Give just one letter for your answer.
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