Before an increase in excise duty on tea, 800 persons out of a sample of 1,000 persons were found to be tea drinkers. After an increase in duty, 800 people were tea drinkers in a sample of 1,200 people. Using standard error of proportion, state whether there is a significant decrease in the consumption of tea after the increase in excise duty ?

Before an increase in excise duty on tea, 800 persons out of a sample of 1,000 persons were found to be tea drinkers. After an increase in duty, 800 people were tea drinkers in a sample of 1,200 people. Using standard error of proportion, state whether there is a significant decrease in the consumption of tea after the increase in excise duty ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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