DATA (STATISTICAL) ANALYSIS Cadillacs are rented through different car rental companies. Alamo Rent-A-Car executives believe that Alamo accounts for 50% of Cadillacs rented this way. To test, this belief, a market researcher randomly chose 1 0 major airports with in site car lots. Observers were sent to each location and instructed to record the number of rental-company Cadillacs observed during a four-hour window. In all, 500 cars were observed and the table below shows the distribution of among various rental companies. location Alamo Hertz Enterprise Other 30 LO 15 25 8 7 COUT N 67 22 28 72 35 20 10 7 6 19 7 31 DONOON 10 Steps of analysis: STEP 1: Identify values of variables to be used in calculations sample size n percentage of cars from Alamo (calculate from data) p hypothesized percentage of cars from Alamo (according to the executives) Ity (Note that q = 100- p) STEP 2: Calculate Standard error For percentage, Standard Error Sp p xq n STEP 3: Calculate z by using the formula Z = P - IL STEP 4: Compare calculated z from Step 3 with that of 95% confidence level. STEP 5: Write a one/two paragraph comment on the implications of this data for belief that Alamo executives have