document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=204752>Question 204752</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An article in The Wall Street journal implies that more than half of all Americans would prefer being given $100 rather than a day off from work. This statement is based on a survey conducted by American Express Incentive Services, in which 593 of 1,040 respondents indicated that they would rather have the $100 )Carlos Tejada, “ Work Week,” The Wall Street Journal, July 25, 2000, A1).\r<BR>\n" );
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document.write( "a. At the 0.05 level of significance, is there evidence based on the survey data that more than half of all Americans would rather have $100 than a day off of work?\r<BR>\n" );
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document.write( "b. Compute the p-value and interpret its meaning.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #154523 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=154523\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> An article in The Wall Street journal implies that more than half of all Americans would prefer being given $100 rather than a day off from work. This statement is based on a survey conducted by American Express Incentive Services, in which 593 of 1,040 respondents indicated that they would rather have the $100 )Carlos Tejada, “ Work Week,” The Wall Street Journal, July 25, 2000, A1). <BR>\n" );
document.write( "a. At the 0.05 level of significance, is there evidence based on the survey data that more than half of all Americans would rather have $100 than a day off of work?<BR>\n" );
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document.write( "Ho: p <= 0.5<BR>\n" );
document.write( "Ha: p > 0.5 (this is the claim)<BR>\n" );
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document.write( "p-hat = 593/1040 = 0.5702<BR>\n" );
document.write( "z(0.5702) = (0.5702-0.5)/[sqrt[0.5*0.5/1040] = 2.2639<BR>\n" );
document.write( "p-value = P(z>2.2639) = 0.01179<BR>\n" );
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document.write( "Since the p-value is less than 5%, Fail to reject Ho.<BR>\n" );
document.write( "Conclusion: The test results do not support the claim that p>0.5.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. <BR>\n" );
document.write( "b. Compute the p-value and interpret its meaning.<BR>\n" );
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