The hypothesis test shows that we reject the null hypothesis and there is sufficient evidence to support the claim that the return rate is less than 20%
<h3>What is the claim that the return rate is less than 20% by using a statistical hypothesis method?</h3>
The claim that the return rate is less than 20% is p < 0.2. From the given information, we can compute our null hypothesis and alternative hypothesis as:
![\mathbf{H_o :p =0.2}](https://tex.z-dn.net/?f=%5Cmathbf%7BH_o%20%3Ap%20%3D0.2%7D)
![\mathbf{H_i:p < 0.2}](https://tex.z-dn.net/?f=%5Cmathbf%7BH_i%3Ap%20%3C%200.2%7D)
Given that:
Sample size (n) = 6965
Sample proportion ![\mathbf{\hat p = \dfrac{x}{n} = \dfrac{1302}{6965} \sim0.1869}](https://tex.z-dn.net/?f=%5Cmathbf%7B%5Chat%20p%20%3D%20%5Cdfrac%7Bx%7D%7Bn%7D%20%3D%20%5Cdfrac%7B1302%7D%7B6965%7D%20%5Csim0.1869%7D)
The test statistics for this data can be computed as:
![\mathbf{z = \dfrac{\hat p - p}{\sqrt{\dfrac{p(1-p)}{n}}}}](https://tex.z-dn.net/?f=%5Cmathbf%7Bz%20%3D%20%5Cdfrac%7B%5Chat%20p%20-%20p%7D%7B%5Csqrt%7B%5Cdfrac%7Bp%281-p%29%7D%7Bn%7D%7D%7D%7D)
![\mathbf{z = \dfrac{0.1869 -0.2}{\sqrt{\dfrac{0.2(1-0.2)}{6965}}}}](https://tex.z-dn.net/?f=%5Cmathbf%7Bz%20%3D%20%5Cdfrac%7B0.1869%20-0.2%7D%7B%5Csqrt%7B%5Cdfrac%7B0.2%281-0.2%29%7D%7B6965%7D%7D%7D%7D)
![\mathbf{z = \dfrac{-0.0131}{0.0047929}}](https://tex.z-dn.net/?f=%5Cmathbf%7Bz%20%3D%20%5Cdfrac%7B-0.0131%7D%7B0.0047929%7D%7D)
z = -2.73
From the hypothesis testing, since the p < alternative hypothesis, then our test is a left-tailed test(one-tailed.
Hence, the p-value for the test statistics can be computed as:
P-value = P(Z ≤ z)
P-value = P(Z ≤ - 2.73)
By using the Excel function =NORMDIST (-2.73)
P-value = 0.00317
P-value ≅ 0.003
Therefore, we can conclude that since P-value is less than the significance level at ∝ = 0.01, we reject the null hypothesis and there is sufficient evidence to support the claim that the return rate is less than 20%
Learn more about hypothesis testing here:
brainly.com/question/15980493
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