SOLUTION: Charges for TV advertising on a TV show are based on the number of viewers, which is measured by the rating. The rating is the percentage of population of 110 million TV households

Question 61321This question is from textbook Elementary Statistics
: Charges for TV advertising on a TV show are based on the number of viewers, which is measured by the rating. The rating is the percentage of population of 110 million TV households.The CBS television show 60 minutes recently had a rating of 7.8, indicating that 7.8% of the household were tuned to that show.An advertiser conducts an independent survey of 100 households and finds that only 4 were tuned to 60 minutes. Assuming that the 7.8 rating is correct, find the probability of surveying 100 randomly selected households and getting 4 or fewer tuned to 60 minutes.Does the result suggest that the rating of 7.8 is too high? This question is from textbook Elementary Statistics

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Charges for TV advertising on a TV show are based on the number of viewers, which is measured by the rating. The rating is the percentage of population of 110 million TV households.The CBS television show 60 minutes recently had a rating of 7.8, indicating that 7.8% of the household were tuned to that show.An advertiser conducts an independent survey of 100 households and finds that only 4 were tuned to 60 minutes. Assuming that the 7.8 rating is correct, find the probability of surveying 100 randomly selected households and getting 4 or fewer tuned to 60 minutes.Does the result suggest that the rating of 7.8 is too high?
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Ho: p=0.078
Ha: p<0.078
--------
p-hat = 0.04
z(0.4)= [0.04-0.078]/[0.078*0.922/sqrt(100)]= -4.91108...
p-value = 4.53536...X 10^(-7)
Since p<5% "Reject Ho"
The probability of getting 4 or fewer of 100 is the p-value
Cheers,
Stan H.
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