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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.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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: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.
Transcribed Image Text:What test statistic do you use? Hint: Give just one letter for your answer.
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