Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A decade-old study found that the proportion, p, of high school seniors who believed that getting rich was an important personal goal was 75%. A
A decade-old study found that the proportion, p, of high school seniors who believed that "getting rich" was an important personal goal was 75%. A researcher decides to test whether or not that percentage still stands. He finds that, among the 230 high school seniors in his random sample, 174 believe that "getting rich" is an important goal. Can he conclude, at the 0.05 level of significance, that the proportion has indeed changed? Perform a two-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (If necessary, consult a list of formulas.) (a) State the null hypothesis Hp and the alternative hypothesis H, p H,: U S H, :0 do (b) Determine the type of test statistic to use (Choose one) 0=0 030 02 (c) Find the value of the test statistic. (Round to three or more decimal places.) 070 <0 b>0 X S (d) Find the p-value. (Round to three or more decimal places.) (e) Can we conclude that the proportion of high school seniors who believe that "getting rich" is an important goal has changed
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started