Question
To test the hypothesis that 55% of those families who plan to purchase a vacation residence in Florida want a condominium, the null hypothesis is
To test the hypothesis that 55% of those families who plan to purchase a vacation residence in Florida want a condominium, the null hypothesis is p = 0.55 and the alternate is p 0.55. A random sample of 400 families who planned to buy a vacation residence revealed that 250 families want a condominium. What decision should be made regarding the null hypothesis using the 0.05 level of significance?
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
