Computational Statistics

According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1790 American adults, 62% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 5% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved p-value = i Critical value = i We can conclude that the percentage of all American adults who currently hold this opinion is 55%. eTextbook and Media higher than not higher than