Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Variable: Homeowner (Yes; No). Yes indicates if a participant is a homeowner. Based on historical data, a researcher hypothesizes that less than 60% of the

Variable: Homeowner (Yes; No)." Yes" indicates if a participant is a homeowner.

"Based on historical data, a researcher hypothesizes that less than 60% of the residents of a county are homeowners. To test this claim, the researcher randomly selects a sample (Please download the data set in the quiz instructions section). The researcher would like to test if this hypothesis is supported or not with a significance level of 0.05".

Select the correct answer from the drop-down menu.

Interpretation of the analysis results:

The formulation of the H0 and H1 is as follows: H(0): [ Select ] ["The mean", "The average", "The proportion"] of owners of houses [ Select ] ["", "", "", "<", ">"] [ Select ] ["60%", "0.006", "60"] . H(1):

[ Select ] ["The proportion", "The average", "The mean"] of owners of houses [ Select ] ["=", "", "<", ">", "", ""] [ Select ] ["0.0060", "56%", "60", "60%"] . The alternative hypothesis has a [ Select ] ["direction (">")", "no direction ()", "no direction (=)", "direction ("<")"] , therefore it is [ Select ] ["a left-tailed test", "a two-tailed test", "a right-tailed test"] . Since there is a [ Select ] ["proportion, percentage, or ratio in the hypothesized test value", "mean or average in the hypothesized test value"] , we need to use [ Select ] ["one-sample test for median", "one sample test for proportion", "one-sample test for standard deviation", "one sample test for means"] . The results indicated that the [ Select ] ["alternative hypothesis (H1)", "null hypothesis (H1)", "null hypothesis (H0)", "alternative hypothesis (H0)"] is [ Select ] ["rejected", "not rejected"] since the [ Select ] ["p-value", "z-value", "t-value"] of the test-statistics ( [ Select ] ["t-statistics", "z-statistics"] ) is [ Select ] ["less than", "different from", "less than or equal to", "equal to", "greater than or equal to"] [ Select ] ["0.01", "0.95", "0.10", "0.05"] . The alternative hypothesis is [ Select ] ["not supported", "supported"] . Therefore, [ Select ] ["the proportion of owner of houses", "the average of owner of houses", "the median of owner of houses"] is [ Select ] ["not statistically significantly less than", "statistically significantly less than"] [ Select ] ["0.060", "60", "60%"] (---Report the test statistics; p-value within the bracket-----).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: Timothy J Louwers, Robert J. Ramsay, David Sinason, Jerry R Strawser

1st Edition

0072954442, 9780072954449

More Books

Students also viewed these Accounting questions