Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In a budget process the CFO assumed the historical 28% of sales would be high end. A survey of 175 prior year sales found 62
In a budget process the CFO assumed the historical 28% of sales would be high end. A survey of 175 prior year sales found 62 high end sales. Did the survey results indicate a CHANGE FROM the historical 28%? Use a 5% significance level. | What is the CONCLUSION for the study? 1) Reject H0 and conclude the high end sales proportion was greater than than 0.28 2) Fail to Reject H0 and conclude the high end sales proportion may be 0.35 3) Reject H0 and conclude the high end sales proportion was different than 0.28 4) Reject H0 and conclude the high end sales proportion was less than 0.35 5) Fail to Reject the alternative H1 and conclude H0: p=0.28 6) No answer is correct. ------------------------------------- Enter: Integer 1, 2, 3, 4, 5, 6 no decimal
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