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To test the hypothesis that 47% of those families who plan to purchase a vacation residence in Florida want a condominium, the null hypothesis is
To test the hypothesis that 47% of those families who plan to purchase a vacation residence in Florida want a condominium, the null hypothesis is p = 0.47 and the alternate is p 0.47. A random sample of 500 families who planned to buy a vacation residence revealed that 225 families want a condominium. What decision should be made regarding the null hypothesis using the 0.05 level of significance?
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