What is 7,298,341 rounded to the nearest 10000
2 answers:
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Answer:
p= 0.9995 and we can conclude that students receiving aid is more than 50% according to the sample results in 2% significance level.
Step-by-step explanation:
: less than or equal 50% of students at his college receive financial aid
: more than 50% of students receive financial aid.
According to the nul hypothesis we assume a normal distribution with proportion 50%.
z-score of sample proportion can be calculated using the formula:
z= where
- X is the sample proportion (0.65)
- M is the null hypothesis proportion (0.5)
- s is the standard deviation of the sample (
)
- N is the sample size (120)
then z= ≈ 3,29
thus p= 0.9995 and since p<0.02 (2%), we reject the null hypothesis.