Homeownership survey. A real estate agency conducted a survey to determine the proportion of homeownership in a residential area. The survey consists of 50 residents. Their current homeownership statuses (coded 1 = Own a home, 0 = Not own a home) are listed below. 0 1 1 0 0 0 1 1 1 0 0 1 0 0 0 1 1 0 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 0 0 1 0 0

a. Give the null and alternative hypotheses for testing whether the true proportion of homeowners in the area is less than half.

b. Locate the p-value on the Minitab printout below.

a. Make the appropriate conclusion using a = .05. HOME globally, more than 85% companies have implemented similar methods. Is there sufficient evidence to support the analyst’s claim by using the data collected from McKinsey’s survey? Use a = .05 in your testing.