Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19. A grocery store manager is interested in testing the claim that banana is the favorite fruit for more than 50% of the adults. The

19. A grocery store manager is interested in testing the claim that banana is the favorite fruit for more than 50% of the adults. The manager conducted a survey on a random sample of 100 adults. The survey showed that 56 adults in the sample chose banana as his/her favorite fruit. Assume the manager wants to use a 0.05 significance level to test the claim. (a) What is the appropriate hypothesis test to use for this analysis? Please identify and explain why it is appropriate. (b) Identify the null hypothesis and the alternative hypothesis. (c) Determine the test statistic. Round your answer to two decimal places. Describe method used for obtaining the test statistic. (d) Determine the p-value. Round your answer to three decimal places. Describe method used for obtaining the p-value. (e) Compare p-value and significance level . What decision should be made regarding the null hypothesis (e.g., reject or fail to reject) and why? (f) Is there sufficient evidence to support the claim that banana is the favorite fruit for more than 50% of the adults? Explain your conclusion. 20. A business analyst believes that December holiday sales in 2016 are a good predictor of

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematics for Economics and Business

Authors: Ian Jacques

9th edition

129219166X, 9781292191706 , 978-1292191669

More Books

Students also viewed these Mathematics questions

Question

Describe the four strategies a business can use to manage demand

Answered: 1 week ago