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An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase

An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more

than 30% of potential buyers indicate they will purchase the newly designed electric cars. In a sample of

500 potential buyers, 160 indicated that they would buy such a product.

State the hypotheses for this problem

Compute the standard error of P.

Compute the test statistic.

At 95% confidence, what is your conclusion? Should the manufacturer produce the new

electric powered car?

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