Question
A recent study showed that a large percentage of college applications were submitted online. Assume that this result is based on a simple random sample
A recent study showed that a large percentage of college applications were submitted online. Assume that this result is based on a simple random sample of 1000 college applications, with 530 submitted online. Use a 0.05 significance level to test the claim that among all college applications, the percentage submitted online is less than 50%.
(a) State the null and alternative hypothesis
(b)What is the test statistic?
(c) What is the P-value?
(d)What is the conclusion?
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
An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
