SOLUTION: Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is p = 0.55 and the alt
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Question 144954: Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is p = 0.55 and the alternate is p 0.55. A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want a condominium. What decision should be made regarding the null hypothesis? The Z critical is 2.576 and the test statistic calculates to : (228/400 - .55)/ sqrt(.55(.45)/400) = 0.8.
A) Do not reject it
B) Reject it
C) Cannot accept nor reject it based on the information given
D) None of the above
You can put this solution on YOUR website! Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is p = 0.55 and the alternate is p 0.55. A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want a condominium. What decision should be made regarding the null hypothesis? The Z critical is 2.576 and the test statistic calculates to : (228/400 - .55)/ sqrt(.55(.45)/400) = 0.8.
A) Do not reject it
B) Reject it
C) Cannot accept nor reject it based on the information given
D) None of the above
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Since the test statistic is 0.8 < 2.576, Fail to reject Ho.
Answer: A
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Cheers,
Stan H.
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