Farrah borrowed $155 from her brother. She has already paid back $15. She plans to pay back $35 each month until the debt is pai
2 answers:
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Answer:
The p value for this case would be given by:
For this case since the p value is higher than the significance level given we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true proportion is not significantly different from 0.32 or 32 %
Step-by-step explanation:
Information given
n=750 represent the random sample taken
estimated proportion of people who thought the economy is getting worse
is the value that we want to verify
represent the significance level
z would represent the statistic
represent the p value
Hypothesis to test
We want to check if the true proportion of interest is equal to 0.32 or not.:
Null hypothesis:
Alternative hypothesis:
The statistic would be given by:
(1)
Replacing we got:
The p value for this case would be given by:
For this case since the p value is higher than the significance level given we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true proportion is not significantly different from 0.32 or 32 %