he mayor of a town has proposed a plan for the annexation of a new bridge. A political study took a sample of 1100 voters in the
town and found that 25% of the residents favored annexation. Using the data, a political strategist wants to test the claim that the percentage of residents who favor annexation is above 22%. Find the value of the test statistic. Round your answer to two decimal places.
1 answer:
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Answer:
18.29%
Explanation:
Return on Equity is the net profit available for equity/ Total equity value.
Total equity = Total assets - Total debt
= $90 million - $55 million = $35 million
Earnings for equity = Annual sales net profit margin 4%
= $160 million 4% = 6.4 million
Therefore, return on equity =
=
Therefore, ROE = 18.29%