SOLUTION: Research at the University of Toledo indicates that 50 percent of the students change their major area of study after their first year in a program. A random sample of 100 students

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Question 186394: Research at the University of Toledo indicates that 50 percent of the students change their major area of study after their first year in a program. A random sample of 100 students in the College of Business revealed that 48 had changed their major area of study after their first year of the program. Has there been a significant decrease in the proportion of students who change their major after the first year in this program? Test at the .05 level of significance.
Answer by stanbon(75887) About Me  (Show Source):
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Research at the University of Toledo indicates that 50 percent of the students change their major area of study after their first year in a program. A random sample of 100 students in the College of Business revealed that 48 had changed their major area of study after their first year of the program. Has there been a significant decrease in the proportion of students who change their major after the first year in this program? Test at the .05 level of significance.
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Ho: p = 0.50
Ha: p < 0.50
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sample proportion: 0.48
test statistic: z(0.48) = (0.48-0.50)/sqrt[0.5*0.5/100]= -0.4
p-value = P(z<-0.4) = 0.3446
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Conclusion:
Since the p-value is greater than 5%, fail to reject Ho.
The test does not provide sufficient evidence to reject
the belief that the percentage of students who change
their major has decreased.
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Cheers,
Stan H.