Question 1183504
230/320=p hat, the best estimate=0.71875
Ho:p=0.80
Ha: p NE 0.80
alpha=0.03
test statistic is a z, reject this two way test if |z| > 2.17
z=(0.71875-0.80)/sqrt(0.8*0.2/320)
=-0.08125/0.0224
=-3.63
It does not justify purchase of the wheat seeds.
reject Ho with p-value 0.0003 (double the area from -oo to -3.63 since two way test)