Solution Found!
Entrepreneurial careers of MBA alumni. Are African
Chapter 8, Problem 57E(choose chapter or problem)
Entrepreneurial careers of MBA alumni. Are African American MBA students more likely to begin their careers as entrepreneurs than white MBA students? This was a question of interest to the Graduate Management Admission Council (GMAC). GMAC Research Reports (Oct. 3, 2005) published the results of a survey of MBA alumni. Of the 1,304 African Americans who responded to the survey, 209 reported their employment status after graduation as self-employed or a small business owner. Of the 7,120 whites who responded to the survey, 356 reported their employment status after graduation as self-employed or a small business owner. Use this information to answer the research question.
Questions & Answers
QUESTION:
Entrepreneurial careers of MBA alumni. Are African American MBA students more likely to begin their careers as entrepreneurs than white MBA students? This was a question of interest to the Graduate Management Admission Council (GMAC). GMAC Research Reports (Oct. 3, 2005) published the results of a survey of MBA alumni. Of the 1,304 African Americans who responded to the survey, 209 reported their employment status after graduation as self-employed or a small business owner. Of the 7,120 whites who responded to the survey, 356 reported their employment status after graduation as self-employed or a small business owner. Use this information to answer the research question.
ANSWER:Step 1 of 3
If we define 
Given,
Sample size of African Americans,
African Americans who responded to the survey,
Sample size of whites,
Whites who responded to the survey,
