SOLUTION: Due to the sharp increase in the prices of urban properties over the last five years, only a small percentage of new city dwellers can afford to buy their own property. According t

Question 1181462: Due to the sharp increase in the prices of urban properties over the last five years, only a small percentage of new city dwellers can afford to buy their own property. According to a recent survey, only 22% of these new city dwellers can afford to buy their own property. An estate agency who wanted to verify this, considered a random sample of 200 recent city dwellers, and found that only 38 of them bought their property in town. Test at the 5% significance level whether the percentage has changed.
State the alternative hypothesis
Answer by CPhill(1987) (Show Source): You can put this solution on YOUR website!
The alternative hypothesis is that the percentage of new city dwellers who can afford to buy property has *changed*. This means it's *different* from 22%, not just less than or greater than. So, it's a two-tailed test.
Formally:
* **H₁ (or Ha):** p ≠ 0.22 (The proportion is *not* 22%)

RELATED QUESTIONS
1.A sample of 36 students are drawn from the NUST student population, and their body... (answered by greenestamps)

1.Due to the sharp increase in the prices of urban properties over the last five years,... (answered by greenestamps)

The library at a certain university reported that journal prices had increased by 130%... (answered by stanbon)

the population of a city grows at the annual rate of 3%. what percentage increase is... (answered by Alan3354)

The population of a city increases @ 4% p.a. There is an additional annual increase of 4% (answered by JimboP1977)

Does anyone know how to answer this question? I do not understand it. Thank you. If... (answered by MathLover1,Theo,greenestamps)

jennifer's annual salary increased from $27000 to $47000 over the last five years. find... (answered by colliefan)

the number of dogs licensed in a particular city this year is 1300. this is a 5% increase (answered by ewatrrr)

Your university reported increases in in-state tuition of 8.5%, 6.7%, 9.3%, 3.4%, and... (answered by Edwin McCravy)