Question
A consulting firm had predicted that 35% of the employees at a large firm would take advantage of a new company Credit Union, but management
A consulting firm had predicted that 35% of the employees at a large firm would take advantage of a new company Credit Union, but management is skeptical. They doubt the rate is that high.A survey of 300 employees shows that 138 of them are currently taking advantage of the Credit Union. 1. What proportion of the sampled employees is taking advantage of the Credit Union? a. 0.35 b. 0.46 c. 0.5 2. Suppose that you want to conduct a hypothesis test to determine whether or not the proportion of employees taking advantage of the Credit Union is less than the 35% predicted by the consulting firm. What is the form of the alternative hypothesis for this test? a. Ha: < .35b. Ha: p < .35c. Ha: p < .46 3. What is the value of the test statistic for the hypothesis test described in Question 2? a. 3.93 b. 2.93 c. 4.93 4. What is the critical value that defines the rejection region for the test? Assume a significance level of 0.05 .a. Z0.05 = -1.645 b. Z0.05/2 = -1.96 c. t0.05 = -1.697 5. What conclusion do you reach? a. Reject Ho and conclude that less than 35% are taking advantage of the Credit Union. b. Fail to reject Ho and conclude that less than 35% are taking advantage of the Credit Union. c. Fail to reject Ho and conclude that there is not enough evidence to conclude that less than 35% are taking advantage of the Credit Union.
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