Olivia has $240 in her bank account. Each month, her bank deducts a $12.50 fee for maintaining a balance below $250. If Olivia m
2 answers:
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Answer:
The p value would be given by:
Since the p value is higher than the significance level we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true proportion is significantly less than 0.64 at 5% of significance
Step-by-step explanation:
Information given
n=145 represent the random sample taken
X=89 represent the number of people who believed the supermarket brand was as good as the national brand
estimated proportion of people who believed the supermarket brand was as good as the national brand
is the value to test
represent the significance level
z would represent the statistic
represent the p value
Hypothesis to test
We want to test if the true proportion is less than 0.64, the system of hypothesis are.:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
Replacing the info we got:
The p value would be given by:
Since the p value is higher than the significance level we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true proportion is significantly less than 0.64 at 5% of significance