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I need part Z= Consumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on the purchase of most products.
I need part Z=
Consumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on the purchase of most products. In this exercise we consider a major electronics retailer that wishes to increase the proportion of customers who buy extended warranties on digital cameras. Historically, 20 percent of digital camera customers have purchased the retailer's extended warranty. To increase this percentage, the retailer has decided to offer a new warranty that is less expensive and more comprehensive. Suppose that three months after starting to offer the new warranty a random sample of 500 customer sales invoices shows that 152 out of 500 digital camera customers purchased the new warranty. Letting p denote the proportion of all digital camera customers who have purchased the new warranty, calculate the p value for testing HP 3.20 versus H: P > .20. How much evidence is there that p exceeds 20? (Round value to 3 decimal and z value to 2 decimal places.) HO PS0.20 versus Ha p > 0.20 p-hat 0.304 there is extremely strong evidence that p exceeds 20 Step by Step Solution
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